IO, the specialist manager of multi-let industrial estates, announces the launch of a new multi-let industrial property segregated mandate, with Tesco Pension Fund (TPF).
IO’s strategy for the TPF mandate is to buy and hold multi-tenanted industrial and urban logistics estates to which it will apply the IO System of management to maximise income and capital value.
The venture has circa £60m to deploy and will focus on lot sizes of £2m-£10m across the UK.
Angus Scott-Brown, managing director of IO, said:
The TPF mandate has been established to capitalise on the opportunity to generate strong returns by acquiring multi-let industrial estates, actively managing these through cost effective refurbishment, to reduce vacancy and generate a defensive and growing distributable income return for the investor.
Katherine Parker, Senior Property Fund Manager at TPF, said :
We are delighted to be working with IO, whose specialist focus and skill base in driving strong income and capital growth from the industrial sector, is complementary to our direct property investment strategy.
Established in 1986 as Industrial Ownership, IO is headed by managing director and founding partner, Angus Scott-Brown and chaired by David Hunter. IO pioneered the proactive management of multi-let industrial estates, providing cheaper occupational costs for small and medium-sized businesses and market-beating returns for investors.
It manages a number of private investment vehicles on behalf of well-established investors including the Duke of Westminster’s Grosvenor, Quilvest SA, The Earl of Bradford’s Estate and a well-known Hong Kong based family office.
Tesco Pension Investment (TPI) is the in-house investment team created by the Trustee of the Tesco PLC Pension Scheme. TPI has the primary objective of achieving the long term investment goals of Tesco Plc’s occupational pension scheme, as set by the Trustee and the Trustee’s advisors.