Bahrain-based Investcorp has announced the acquisition of five industrial units in Scotland for £11.5 million ($14.6 million).
Located in Uddingston, Blantyre and Livingston, the fully let 200,000 sq ft portfolio is home to a number of well-known tenants across the life sciences, logistics, telecoms and packaging sectors.
The acquisition marks Investcorp’s seventh industrial property investment in the UK since June 2017, following the acquisition of a distribution warehouse near St Helens in the North West of England in the first half of 2018.
It is the latest in a series of acquisitions that Investcorp has undertaken across the UK and Germany as part of its broader pan-European real estate strategy.
Investcorp has invested more than £250 million across its portfolio of UK and European real estate assets since June 2017.
Yusef Al Yusef, managing director at Investcorp in Kuwait and Abu Dhabi, said: “This acquisition is consistent with Investcorp’s strategy to acquire well-located, income-generating industrial and logistics assets based in the UK.
"The portfolio is well positioned to benefit from the UK’s thriving industrial market and strong supply and demand dynamics. We look forward to working through our attractive pipeline of new investment opportunities in the UK.”For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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