12 Eastbourne industrial estate units sold for £13.7 million

The Eastbourne industrial estate where the units are

A multi-let urban logistics investment fund managed by Chancerygate and JR Capital has bought 12 units on an Eastbourne, UK, industrial estate for £13.7 million.

The units on Compton Industrial Estate range from  3,555-22,785 square feet and together total 121,780 square feet. Occupants include East Sussex County Council, Eastbourne Coach Furnishers, Williams Trade Suppliers and Howdens Joinery.

The fund acquired the industrial estate portfolio from a joint venture between commercial property business Canmoor and investment company JCAM. The net initial yield is 7%.

Compton Industrial Estate is one-and-a-half miles from Eastbourne town centre and is near the A22 and also the A27.

JR Capital’s CEO, John Collier-Wright says, “Eastbourne is the third acquisition for the new fund in as many months and it presented us with a good opportunity to allocate capital to the south coast, a region underpinned by strong occupational demand, a lack of available units and very few new developments in the pipeline.”

JR Capital and Chancerygate’s £150 million fund targets industrial, warehousing and also urban logistics investments across the UK from £5 million-£15 million

Chancerygate asset management director, George Jerram, said: “Our latest acquisition sits in one of Eastbourne’s prime industrial locations and reflects the strong confidence we have in the local market for urban logistics accommodation. There remains strong demand for urban logistics property both regionally and nationally.”

Chancerygate is the UK’s largest urban logistics property developer and asset manager and the only one operating nationwide. London-based JR Capital is a multi-family office business with a focus on UK and also European real estate.