Chancerygate and property investment company JR Capital have acquired Capitol Trading Park, Knowsley, for £9.45m through the £150m multi-let urban logistics investment fund.
Managed by property JR Capital and Chancerygate, the fund acquired the 140,000 sq ft Knowsley Industrial Park-based site industrial park from business space provider Flexspace.
Capitol Trading Park is located seven miles from Liverpool city centre and benefits from close proximity to the M6, M7, M58 and M62, as well as being a 10-minute drive from Liverpool Deep Sea Terminal.
The park is currently arranged as 22 units, ranging from 1,600 sq ft to 24,500 sq ft. Current occupiers include window supplier Ascot Architectural Glazing, building solutions provider Highbury Homes and food wholesaler Nuts in Bulk.
JR Capital’s Head of Investment, Michael Ferris commented: “We are pleased to have completed this latest acquisition in Liverpool, having intentionally targeted opportunities in the North West of England. It is a region we are bullish on for multi let industrial due to the favourable supply and demand dynamics.
“Alongside the acquisition of Capitol Trading Park, we have also completed on a new £20m facility credit approved with the intention of increasing to £50m from NatWest Bank. This will support our deployment strategy over the coming months.”
JR Capital and Chancerygate’s £150m fund has a five-year life and is targeting industrial, warehousing and urban logistics investments across the UK in lot sizes of £5m to £15m.
The partners’ first fund, which totalled £100m, secured 18 assets ranging from Dundee to Exeter over a two-year period. The assets comprised 150 units totalling more than one million sq ft.
Commenting on the acquisition, Chancerygate asset manager, Stuart McGill, said: “Capitol Trading Park is a key opportunity to increase our portfolio with a well-established, strategically located asset.
“Our latest acquisition sits in one of Liverpool’s prime industrial locations and reflects the strong confidence we have in the North West market for urban logistics accommodation.
“The estate offers some exciting opportunities to add value and we plan to be on site carrying out refurbishment works in the very near future. These works will focus on providing good quality units to a supply starved market and will also enhance the sustainability metrics of the estate.”
London-based JR Capital is a multi-family office business with a focus on UK and European real estate. The business provides a platform for its Middle East-based private and institutional investor base principally from Saudi Arabia, Bahrain, Qatar, Dubai, and Kuwait to co-invest into both UK and European real estate via funds and segregated mandates.
Established in 2005 by John Collier-Wright, JR Capital has concluded over £2bn of transactions across all major sectors.
Ereira Mendoza & Co acted on behalf of Chancerygate and JR Capital, while Allsop and LM6 advised Flexspace.
You can learn more about Chancerygate’s live projects across the country here.