Thu, 14 Apr 2022 | BUSINESS SALE
A Tesco Distribution Centre in Avonmouth has been sold by Roebuck Asset Management in an off-market sale worth over £102 million. The deal ends a successful hold period of the property for Roebuck, after it acquired the site in 2017 for £71.5 million on behalf of a consortium of institutional investors from South Korea and Capstone Asset Management.
The site, which serves over 400 Tesco supermarkets and convenience stores across South Wales and the South West of England, is a temperature-controlled facility covering 540,000 sq ft. The sale, to an unnamed buyer, comes amid a rapidly accelerating race to acquire UK logistics space.
Roebuck Managing Partner Hugh Macdonald-Brown commented: "The sale of Tesco Avonmouth has delivered our Korean investors significant out-performance following a four and-half-year hold period producing total annual return in excess of 16 per cent.”
Roebuck is a subsidiary of Bahrain-based financial investment group GFH Financial. With GFH’s backing, Roebuck is seeking to continue growing its assets under management (AUM), targeting new acquisitions this year valued at around $500 million (£380.6 million).
Hugh Macdonald-Brown said: "It was fantastic to work with Capstone on another successful investment and the intention is to hopefully find new projects to work on together. Roebuck is actively pursuing opportunities to recycle capital from these sales for either UK and European logistics assets."
GFH co-Chief Investment Officer and Roebuck Board Member Nael Mustafa added: “We’re pleased to announce this important exit by Roebuck of one of the prime logistics assets in the portfolio. The strategy to sell the Tesco distribution centre is in line with Roebuck’s plans to continue to build on its already very strong track record. We look forward to announcing new transactions with Roebuck within the European logistics marketplace."
One of the best ways to find properties below market price is to look at recent administrations.
Specialist wholesaler to the security, and locksmith sector with an extensive active client base and a well maintained ecommerce website.
The business is established and offers its products across the region. The vendors now wish to retire, with the business representing an excellent acquisition for an existing operator within a similar sector or a new market entrant.
Well established, cash generative, leading consumer electronics distributor, with a vast portfolio covering electronics, audio visual, sound, light, public address and MI trades. Owners of individual brands with good known growth opportunities.
26
|
Jul
|
Tunnelling construction technology company falls into administration | ADMINISTRATION
A tunnelling construction technology company based in Basing...
26
|
Jul
|
Sumer firm RMT completes second deal of the year | MERGER
RMT Accountants & Business Advisors, which is part of the Su...
25
|
Jul
|
Occupational health service provider secures PE backing for acquisitions | BUSINESS NEWS
A Hull-headquartered provider of occupational health service...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.