Invesco Real Estate (Invesco), the GBP67.8 billion global real estate investment manager, and Barwood Capital Ltd (Barwood) announce today a partnership to build a portfolio of urban/last mile high quality industrial and logistics warehouses across the UK.
The strategic partnership will focus on creating sustainable industrial product through speculative development, asset management or re-positional opportunities, concentrating on locations with strong rental growth prospects and occupier demand.
Andy Rofe, Managing Director at Invesco Real Estate Europe, said: “With further pressure on global supply chains, we recognise the need for ‘edge of town’ distribution assets as many firms reshape their operations to address the challenges of the ‘just in time’ delivery model. Partnering with a logistics specialist such as Barwood Capital, with their extensive UK network, industrial development and asset management expertise provides us with direct access to the UK Industrial sector, with the potential to harness the considerable forecast growth.”
The partnership has already acquired its first two assets, which include a four-acre site adjacent to Manchester’s Trafford Retail Park in order to develop a multi-unit scheme as well as a consented 5.25-acre site in Coventry, close to Junction 3 of the M6, where construction is due to start in July.
As part of Invesco Real Estate’s net zero objectives, each scheme will be developed with the firm’s proprietary ESG checklist and criteria in mind including seeking relevant ESG ratings at the appropriate point of development.
Source: barwoodcapital.co.uk on the 9th of May 2022