Back
News

Argo adds urban industrial with £27m buy

Argo Real Estate has teamed up with Anchor Capital to buy two urban industrial assets in Leatherhead and Dartford for £27.3m.

The investor said the two assets – Leatherhead Trade Park and Orbital One Trading Estate in Dartford – were situated in dominant South East locations and were highly reversionary.

Argo will look to add value through asset management initiatives, increasing income and enhancing capital value through its brown-to-green refurbishment strategy, repositioning the properties and targeting an EPC A rating.

Mark Kelly, head of asset management at Argo, said: “These two assets fit our strategy to buy well-located properties with strong underlying fundamentals and offer both significant reversion and potential to reposition and upgrade environmental performance through refurbishment. We look forward to delivering on the asset management strategy and driving both income and capital value.”

Anchor Capital chief executive Peter Armitage added: “With rising demand, prices forecast to grow steadily and foreign investment increasing, we expect the UK property sector to record consistent annual growth over the next few years. Leatherhead and Dartford are closely linked to London and present superb investment opportunities due to their proximity to the city.”

Send feedback to Samantha McClary

Follow Estates Gazette

Up next…