BCCIM has acquired the Airfield Industrial Estate in Christchurch, Dorset, for £4.5 million.
BCCIM is a joint venture between UK based real estate investment and development specialist, Barwood Capital, and specialist institutional investor, Caisson iO.
This purchase marks the seventh acquisition by BCCIM on behalf of the Urban Industrial Income LP (UII), with this property reflecting a 4.8% net initial yield and a capital value of £155 per square foot.
BCCIM plans to rebrand the 29,000ft² estate – which is spread across six units – while working closely with existing occupiers, including Howdens and General All Purpose Plastics Ltd, to enhance its long-term value.
Additionally, the single vacant unit will undergo refurbishment as part of a targeted leasing strategy to attract a tenant that compliments the estate’s current occupier mix.
The addition of Airfield Industrial Estate brings UII’s total assets under management (AUM) to nearly £60 million, covering approximately 580,000ft² of industrial space.
Caisson iO director of investment management James Burgess said: “We are delighted to secure another high-quality asset for UII.
“Christchurch is an excellent industrial location on the South Coast, benefiting from strong transport links and proximity to Bournemouth and Poole.
“With a sound tenant profile and a robust local occupational market, we look forward to delivering our business plan swiftly.”
