IO has completed the second acquisition in its new £120m UK Industrial joint venture by acquiring Units 5-19 Maple Leaf Industrial Estate, Walsall for £2.875m. The estate, which totals approx. 84,000 sq ft across 11 units, is situated approximately 0.5 miles from Junction 10 of the M6 motorway and currently has a vacancy rate of c.45%. IO intends to implement a targeted capital expenditure programme and leasing strategy in order to reposition the estate within the context of the local market in order to target a reversionary yield of c.11% once fully let.
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.