Yorkshire investment firm buys industrial portfolio for £11.5m

A Yorkshire development and investment company has secured a portfolio of five industrial units in Scotland for £11.5m.

Citivale has continued its latest investment drive with real estate company Investcorp, reflecting a net initial yield of 7.68 per cent.

Located between Edinburgh and Glasgow, the assets house tenants including Vodafone, Clipper Logistics, Nampak, Merckk and Stanford Logistics.

James Appleton-Metcalfe, managing director of Citivale, said: “This acquisition is consistent with our JV’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 in conjunction with Investcorp. We have an active pipeline of deals, primarily off-market.”

Hugo Denee, managing director at Squarestone Growth, added: “The sale of these assets represents our ability to capitalise on the growing trend of increased investor appetite for high quality industrial units.

“The proceeds will be reinvested into the acquisition of assets that complement our growth strategy of compiling a high yielding regional portfolio of £400m assets under management.”