IO Acquires Units 1-4 Maple Leaf Industrial Estate, Walsall

Following on from its earlier acquisition of Units 5-19 Maple Leaf Industrial Estate, Walsall, IO has completed the acquisition of Units 1-4 Maple Leaf in an off-market transaction, as part of its £120m UK Industrial joint venture.

Units 1-4, which comprise c.84,000 sq ft of industrial/warehouse accommodation situated 0.5 miles from Junction 10 of the M6 motorway, were acquired for a consideration of £3.5m, reflecting a NIY of c.8.00% inclusive of a rental guarantee on one vacant unit.

The acquisition, which is anticipated to crystallise substantial marriage value, brings the estate back into single ownership and provides IO with a series of asset management opportunities, including the implementation of a unified capital expenditure and leasing programme across the estate.

IO Investment 2 is a joint venture between Grosvenor, the privately-owned international property group, Quilvest, an independent wealth manager and private equity investor and the IO Group.