Goldman/Canmoor Swoop Again with Golden Triangle Industrial Buy

Oval Has Sold Northampton Industrial Hubs as Duo Goes on Major Industrial Investment Drive

The units are on Gowerton Road in Brackmills Industrial Estate. (CoStar)

The units are on Gowerton Road in Brackmills Industrial Estate. (CoStar)

By Paul Norman
CoStar News

February 9, 2021 | 3:23 P.M.

US banking giant Goldman Sachs has continued a busy drive into the booming UK industrial sector in partnership with asset manager Canmoor, buying Units 1 and 2 at the Brackmills Industrial Estate from Oval Properties for £47.5m.

The deal reflects a net initial yield of 5%.

Brackmills Industrial Estate to the South East of Northampton is home to over 150 companies and more than 11,000 employees. Griffiths Eccles represented Oval while TT&G Partners represented the buyer.

The purchase comes as Goldman in partnership with Canmoor has exchanged on the purchase of a six-strong portfolio of industrial assets in England from NFU Mutual for £111.5m.

US investment banking giant Goldman has had a long-standing requirement to increase its exposure to UK logistics and is now making significant progress.

The 1.03m sq ft Olympian portfolio is fully occupied and comprises six industrial assets: the 245,000 sq ft Fourteen 45, Warth Park Way, Wellingborough; the 93,000 sq ft Mercedes Benz hub at Delaware Drive, Milton Keynes; the 274,000 sq ft 4500 Harrier Parkway on Magna Park, Lutterworth; the 152,000 sq ft High Standing at Harding Road in Milton Keynes; the 204,000 sq ft Blenheim 208 at Freeston Drive in Nottingham; and the Sicame UK building in 65,000 sq ft at London Medway Commercial Park, Stoke Road in Rochester in Kent.

The sale price reflects a net initial yield of 4.9%. Canmoor will be managing the assets acquired upon completion.

NFU Mutual is being represented by Burbage Realty while Goldman Sachs is represented by JLL.

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