ARGO Real Estate, a UK-based real estate operating partner and investment manager, has acquired a portfolio of two urban industrial assets in Leatherhead and Dartford for £27.3m (R624 million) alongside Anchor Capital, a specialist wealth and asset manager with offices in London and Johannesburg, South Africa.
ARGO Real Estate said that both Leatherhead Trade Park and Orbital One Trading Estate, Dartford are situated in dominant South East locations, each with excellent real estate fundamentals and connectivity. “The assets are highly reversionary and benefit from a strong and diverse tenant mix of national and local occupiers.
In line with its urban logistics strategy, ARGO will look to add value through asset management initiatives, increasing income and enhancing capital value through its brown to green refurbishment strategy, repositioning the properties and targeting an EPC A rating.”
Mark Kelly, Head of Asset Management, ARGO Real Estate, said that they are delighted to be partnering with Anchor Capital on these two acquisitions which complement our existing South East-focused portfolio. “These two assets fit our strategy to buy well-located properties with strong underlying fundamentals and offer both significant reversion and potential to reposition and upgrade environmental performance through refurbishment. We look forward to delivering on the asset management strategy and driving both income and capital value.”
Peter Armitage, CEO, Anchor Capital, said that with rising demand, prices forecast to grow steadily and foreign investment increasing, they expect the UK property sector to record consistent annual growth over the next few years. “Leatherhead and Dartford are closely linked to London and present superb investment opportunities due to their proximity to the city. We are excited to work with ARGO, a first-class team with an excellent track record, and we view the UK property sector as an extremely compelling investment opportunity.”
BUSINESS REPORT