BCCIM, a collaborative endeavour between Barwood Capital and Caisson iO, has recently finalised the purchase of Units 1-4 Bamfurlong Industrial Park in Cheltenham. The acquisition, valued at £5.15 million, was made on behalf of the Urban Industrial Income LP and purchased from Dunmoore Properties Limited.

Located approximately 3.5 miles west of Cheltenham and near Junction 11 of the M5, Units 1-4 Bamfurlong Industrial Park enjoys a strategic position. This fully let, multi-let industrial estate comprises five industrial units, spanning a total of 39,487 sq ft, and is home to four occupiers. The site’s proximity to major conurbations and motorway networks enhances its accessibility and appeal.

The estate, which is a short distance from the upcoming 47-hectare Golden Valley Development, has undergone partial refurbishment. BCCIM sees this acquisition as an opportunity to enhance the asset’s sustainability credentials and capture potential revisions, aligning with their ongoing objectives.

This latest acquisition is the sixth for the UII fund since its inception in May 2021. It brings the fund’s Assets Under Management (AUM) to approximately £45 million, covering around 0.54 million sq ft of space. The UII fund focuses on investing in multi-let and urban industrial assets across various regional locations in the UK.

Jonathon Ellerington, Senior Investment Manager at Barwood Capital, indicated that this acquisition is part of a broader strategy to expand the portfolio. BCCIM is currently in discussions with potential investors to raise additional funds, demonstrating their expertise and readiness to capitalise on opportunities that align with the fund’s investment strategy.

James Burgess, Director of Investment Management at Caisson iO, expressed satisfaction with the acquisition, citing Cheltenham’s advantageous location, strong labour market, and excellent M5 access. He also noted the ongoing redevelopment in the area, which is expected to enhance the location and profile of occupiers. Despite economic challenges, Caisson iO remains committed to the sector, buoyed by the demand for high-quality space and robust rent collection rates.

UII’s portfolio also includes notable acquisitions such as Rushock Trading Estate in Droitwich, Graylaw Trading Estate in Aintree, Waleswood Industrial Estate in Sheffield, the M54 Space Centre in Telford, and Unit 25, Whistleberry Park in Blantyre, Glasgow.