Harleyford Capital has acquired five urban logistics assets totalling 350,000 sq ft
Harleyford Capital has acquired five urban logistics assets totalling 350,000 sq ft, as part of the newly formed Harleyford Logistics Partnership. The off-market transactions reflect a combined £35m of capital deployed across both the North West and Yorkshire regions of the UK.
The Harleyford Logistics Partnership is looking to assemble a £300m portfolio of well-located urban logistics assets, in partnership with Tristan Capital Partners, with a 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 £10m.
Their strategy aims to capitalise upon structural e-commerce trends alongside the supply and demand imbalance for good quality last-mile assets, as well as enhancing the ESG characteristics of the investments they make through deployment of capital expenditure. New build assets are targeting EPC A and BREEAM Excellent alongside a provision for electric vehicle charging points in all car parking spaces and loading yards, whilst operational assets will be enhanced to provide a clear pathway to at least EPC B rating.
The launch of the Harleyford Logistics Partnership follows their recent 8.5-acre development site acquisition in north-west London, where the firm has partnered with Fiera Capital’s Real Estate division to deliver an £80m speculative logistics scheme as part of a separate urban logistics development strategy.
Harleyford Capital was founded in 2022 by Dean Harrison and Thomas Mallindine, former directors at InfraRed Capital Partners, and Zayn Khamisa. The management team has transacted and managed over £1bn of UK logistics real estate in previous roles, including the platform aggregation and subsequent £250m disposal to Blackstone in 2021. The team are real estate specialists, providing Investment, Asset and Development Management services.
Dean Harrison Managing Director: Investments at Harleyford Capital, commented: “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.”
Thomas Mallindine Managing Director: Asset Management at Harleyford Capital, commented: “Harleyford Capital offers a best-in-class asset management service, utilising our experience and discretionary capital backgrounds. We look forward to growing this platform to a meaningful scale to create a market-leading urban logistics portfolio with defined characteristics.”
Harleyford Capital and Tristan Capital Partners’ EPISO 6 Fund, were advised by Simmons & Simmons, Workman, DTRE and NorthCap.
