31 July 2017
Reporter: Theo Andrew

UBS Triton buys prime Manchester industrial site for £46 million

UBS Asset Management (UBS AM) Real Estate and Private Markets (REPM) has acquired Stakehill Industrial Estate in Manchester, on behalf of its UBS Triton Property Fund, for £46.35 million.

The 50-acre site consists of 679,845 square feet of internal space, spread across 45 industrial units and two office buildings.

The estate is located in between the M60 orbital and M62 motorway, making it easily accessible from Manchester, Yorkshire and Lancashire, and sits 22 miles from Manchester International Airport.

The acquisition is UBS Triton’s 13th industrial purchase, taking its exposure to the sector to 37 percent. According to the fund, the purchase is in line with its strategy of purchasing prominent multi-let commercial properties in growth locations.

Primarily based in the south of England, the asset manager currently holds 33 assets weighted to retail warehousing, offices, and student accommodation.

Howard Meaney, head of real estate UK at UBS Triton, said: “Stakehill Industrial Estate presented us with the rare and highly sought after opportunity to acquire a prime industrial asset of significant scale located in one of the country’s strongest distribution locations.”

“With limited supply locally, the fully-let estate benefits from a diverse income profile, with a broad range of regional, national and international tenants, while the assorted accommodation styles on offer meet the demands of virtually all types of warehouse occupier.”

He added: “This high-performing asset also presents excellent value enhancement potential through asset management and rental growth, enabling us to target the best returns for our clients.”

More news
The latest news from Real Estate Investment Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Standard Chartered boosts CRE team
11 December 2017 | Singapore | Reporter: Stephanie Palmer
Standard Chartered has named Steven Cranwell as global head of commercial real estate for its global banking business
SoftBank and Compass in ‘largest ever’ US real estate tech investment
08 December 2017 | New York | Reporter: Stephanie Palmer
Real estate technology firm Compass has won $450 million in investment from the SoftBank Vision Fund, in what Compass has called the largest ever real estate technology investment deal in US history
Tristan fund makes first foray into Germany
07 December 2017 | Bonn | Reporter: Stephanie Palmer
The CCP 5 long-life fund, a core-plus fund advised by Tristan Capital Partners, has made its first investment in Germany, acquiring an office complex in Bonn for €35 million
JLL develops UK corporate solutions team
07 December 2017 | London | Reporter: Stephanie Palmer
JLL has named Sue Asprey Price as lead director of its corporate solutions business in the UK, with immediate effect
Link Asset Services appointed as real estate fund administrator
06 December 2017 | London | Reporter: Stephanie Palmer
Warehouse REIT, a specialist warehouse investor managed by Tilstone Partners, has selected Link Asset Services for fund administration
Dutch portfolio sold for €200 million
05 December 2017 | Amsterdam | Reporter: Stephanie Palmer
Patrizia Immobilien AG has sold a portfolio of 61 residential properties in the Netherlands, for around €200 million
Allianz tops off bumper 2017 with Broadway acquisition
04 December 2017 | New York | Reporter: Stephanie Palmer
Allianz Real Estate has acquired a 43 percent stake in 1515 Broadway, New York, a class-A building valued at $1.95 billion