JR Capital and Chancerygate’s £100m multi-let industrial property fund makes final five acquisitions totalling £16m

Fund closed - Sterling Park, Dudley (pictured) is one of the final five sites acquired

JR Capital and Chancerygate’s £100m multi-let industrial property investment fund has acquired five assets for a combined value of more than £16m.

The deals mark the conclusion of the fund’s acquisitions boosting its portfolio of industrial space to 24 assets comprising 150 units totalling 1,050,000 sq ft on sites ranging from Dundee to Exeter.

The final round of acquisitions includes estates located across the country in Mansfield, Dudley, Chester, Llandarcy and Nailsea.

Mansfield South Trade Park in Mansfield comprises eight units and was bought from Dunmoore for £3.35m. Sterling Park in Merry Hill, Dudley, also has eight units and was purchased from a client of Ellandi for £3.5m.

The Courtyard at D’Arcy Business Park in Llandarcy, near Neath, is a 10 unit estate and was sold to the fund by St Modwen for £3.1m. Three units at West End Trading Estate in Nailsea, Somerset, were acquired from Radnor Investments Ltd for £3m and the recent acquisitions are completed by the purchase of two units in Chester.

Launched in June 2019, the fund has targeted multi-let industrial investments across the UK in lot sizes of £3m to £15m.

JR Capital CEO, John Collier-Wright, said: “We are very pleased to have successfully deployed close to £100m over the past two years, and in doing so have aggregated a high quality and diverse portfolio.

“The fund’s assets have performed exceptionally well, despite challenging global economic conditions, which is testament to the strength of the UK multi-let industrial sector, our stock selection and the management team.

“The sector remains undersupplied, with record levels of occupational demand, and we are bullish on the long term outlook. We have plans to raise additional capital from our investors in next year and look forward to growing our partnership with Chancerygate.”

London-based JR Capital is an FCA-registered multi-family office business with a focus on real estate. It provides a platform for its Middle East-based private and institutional clients to co-invest into both the UK and European real estate markets. Founded in 2005 by John Collier-Wright, it has concluded over £2bn of transactions across all sectors.

Chancerygate managing director, Richard Bains, said: “Our successful partnership with JR Capital and our multi-let fund has been key in enabling further sustainable growth of our asset management business.

“We are delighted to have concluded the assembly of the portfolio with this flurry of transactions. The portfolio now comprises a balanced and diversified spread of assets which will provide strong income returns to our investors.

“Our asset management team have already significantly increased rental income across the portfolio in line with the aims of the fund.

“It has been a pleasure to work with JR Capital and the two firms are already exploring how we can best work together further going forwards.”

Chancerygate is the UK’s largest multi-unit industrial developer and asset manager and the only one operating nationwide from its offices in London, Birmingham, Warrington, Bristol and Milton Keynes.

The company’s asset management team currently manages in excess of £325m of assets across more than five million sq ft of commercial space in more than 460 units.

Chancerygate and JR Capital were advised by BNP Paribas at Nailsea, Greenberry Advisors at Chester, Mitch Prop at Merry Hill and Knight Frank at Llandarcy.