Russell-Cooke advises Clipstone on acquisition of 10 industrial estates for more than £140 million
Russell-Cooke has advised long-standing client Clipstone Investment Management Limited on the acquisition of industrial estates across Greater London and the South East, with a combined value in excess of £140 million.
The transactions included the acquisition of the Project Akoya portfolio, comprising five multi-let industrial estates in Haringey, Woolwich, West Thurrock, Orpington and Watford. The assets were acquired by a joint venture between Clipstone Industrial REIT plc and Clipstone Charities Unit Trust.
The same joint venture also completed the acquisition of a further six industrial estates across Luton, Witney, Crawley, Horsham, Fareham and Park Royal in West London for a combined purchase price of £64.5 million through six separate transactions.
The acquisitions support Clipstone's strategy of investing in high-quality, reversionary industrial estates in strong occupational markets, with 59% of the acquired floor space located within Greater London.
The Project Akoya deal was led by legal director Louise Green, supported by legal directors Laura Kennedy and James Myles and senior associate Mira McIntosh.
Clipstone is a real estate fund management business specialising in UK industrial property and manages approximately £900 million of long-term capital across its various mandates.
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