Investment manager Harleyford Capital has acquired five off-market urban logistics in the UK.
The assets totalling 350,000 square feet are in the North West and Yorkshire.
The off-market transactions have been completed as part of the newly formed Harleyford Logistics Partnership.
The Harleyford Logistics Partnership is looking to assemble a £300 million portfolio of well-located urban logistics assets, in partnership with Tristan Capital Partners. They will focus on the UK’s major metropolitan areas. They aim to acquire single and multi-let assets and portfolios of lot sizes of at least £10 million.
Harleyford Capital enhancing ESG
They plan to capitalise upon structural e-commerce trends alongside the supply and demand imbalance for good quality last-mile assets. They also look to enhance the ESG characteristics of the investments they make using capital expenditure.
It is hoped that new-build assets will achieve EPC A and BREEAM Excellent certification. Provision for electric vehicle charging points is planned in all car parking spaces and loading yards, whilst operational assets will be enhanced.
The Harleyford Logistics Partnership recently acquired an 8.5-acre development site in north-west London. The firm partnered with Fiera Capital’s Real Estate division to deliver an £80 million speculative logistics scheme as part of a separate urban logistics development strategy.
Harleyford Capital was founded in 2022 by Dean Harrison and Thomas Mallindine. They were former directors at InfraRed Capital Partners, and Zayn Khamisa. The management team has transacted and managed over £1 billion of UK logistics real estate in previous roles.
Very active in last mile sector
Dean Harrison Managing Director: Investments at Harleyford Capital, says, “Following the recent market correction, supply and demand dynamics continue to translate into rental growth outperformance for well-located and modern assets. Leveraging our highly localised sourcing network across the UK coupled with over £250m of capital immediately available for deployment, we expect to remain very active in the last-mile sector throughout 2024 and 2025.”
Harleyford Capital and Tristan Capital Partners’ EPISO 6 Fund, were advised by Simmons & Simmons, Workman, DTRE and NorthCap.
