HIG Capital has bought a 42-acre industrial estate close to Stansted Airport as part of a plan to expand in the UK.
The investment manager, which has some $61bn (£48.8bn) of capital under management, has bought the Water Circle Estate.
The Essex site, which has potential for the development of more than 3m sq ft of space has been masterplanned by Cheergrey Properties.
It was put up for sale through Knight Frank for £15m.
Riccardo Dallolio, managing director and head of HIG Realty in Europe, said:“We believe the current market dynamics provide an attractive, entry opportunity to consolidate a portfolio of best-in-class urban logistics and outdoor storage assets in strategic locations across the UK.
“We are confident in the sector’s potential for significant growth and its impact on Water Circle’s expansion in the market.”
Jérôme Fouillé, managing director at HIG Realty, added that the purchase was an “important step” for HIG in its strategy to amalgamate an urban logistics platform of scale in the UK.
“We see unabated demand and rental growth for its assets in their current locations, due to its proximity to key London infrastructure and major transportation hubs,” he said.
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