Urban development site in Madrid added to Ultima Milla joint venture
ICG and Roebuck are joining forces to create a last-mile/urban portfolio across Spain, React News can reveal. The partners have struck a deal to build a €400m portfolio via direct sales or leaseback opportunities. They are aiming to generate a secure income profile by targeting long-income assets in micro-locations across the country.
GFH’s UK subsidiary, Roebuck, acquired the asset for $94 million in 2017, providing investors with a total annual return in excess of 16% GFH eyes new transactions alongside Roebuck in the European logistics market following raft of successful early exits, including Amazon Spain portfolio. With GFH’s backing, Roebuck targets new acquisitions of around $500m over 2022.
Exiting after buying the asset in 2017 with a Korean investment partner
Work is underway on the construction of Eddie Stobart's new, two-unit campus at Daventry International Rail Freight Terminal (Prologis RFI DIRFT).
Roebuck Asset Management has sold a portfolio of last-mile Amazon hubs in Spain for €95m, marking an early exit for the investor.
Roebuck Asset Management and GFH Financial Group have purchased a third last-mile Amazon facility in Spain
Roebuck Asset Management has opened an office in Madrid and named Victor Gregori as Managing Director
BentallGreenOak (BGO) and Mulberry Developments have teamed up to deliver 1.1m sq ft of logistics space for Eddie Stobart in Doncaster.
Roebuck Q&A on a new European logistics focused fund and expansion plans for the team.
Roebuck advise long standing client Eddie Stobart on pre let of a new 560,000sq ft warehouse, to provide much needed extra capacity in the face of growing consumer demand.
London-based pan-European real estate asset manager Roebuck Asset Management has sold an 872,000 sq ft distribution unit near Bristol to Tritax Big Box REIT on behalf of a syndicate of Korean investors for £90m.
Following the acquisition of Roebuck, which will continue to operate independently and be managed by its founders, GFH will add significant expertise in European commercial real estate to the Group and gain strategic access to prime deal flow.
The investment in these assets, which cover an area of c.100,000 sq meters, benefits from strong market fundamentals for logistics and the warehousing sector in general as well as the thriving Spanish e-commerce sector, which continues to witness growth and holds further growth potential.
At the end of 2020 Roebuck successfully disposed of Langley Park Industrial Estate, Chippenham to Schroders Real Estate Investment Trust. The sale concludes a 5 year business plan, implementing various value add strategies
Roebuck Asset Management alongside Hyundai Asset Management has completed the acquisition of Aegon's UK HQ, 1-3 Lochside Crescent, Edinburgh for £133.25m - Scotland's largest commercial property deal of the year.
The Property which comprises of a 125,000 sqm, state of the art logistics warehouse is located 22 kilometres west of Prague in Dobroviz. The facility is leased to e-commerce giant Amazon through 2030 and will be managed jointly by Roebuck Asset Management and an investment vehicle managed by Kendall Square.
Roebuck, alongside their Korean investment partners have acquired a €78.00m distribution centre in Zaragoza, Spain
Accolade Wines has installed a 2.5MW wind turbine to power its 875,000 sq ft Avonmouth distribution centre near Bristol in the UK
Roebuck Asset Management have completed the sale of 141 Wardour Street to Orchard Street Investment Managers. The Property was subject to a wide range of asset management initiatives under Roebuck's stewardship, which added substantial value. The Property was acquired for £30.00m in 2011 and sold for £55.00m in December 2018
Roebuck Asset Management and a consortium of South Korean investors have acquired the Equinox office building in Glasgow, let to Esure for £30.50m, at a yield of just under 6%. This is the fourth acquisition completed by the partnership.
M7 Real Estate has bought, on behalf of M7 Real Estate Investment Partners VI, five adjacent warehouse units let on a long term lease to Eddie Stobart in Workington, Cumbria for £6.295m, representing a net initial yield of 10% and a capital value per sq ft of £13.22. The asset has been acquired from the Stobart Group.
Roebuck Asset Management alongside a consortium of South Korean institutional investors has acquired the freehold in Future House, Staines-Upon-Thames for £33.7m from clients of LaSalle Investment Management. The transaction is the third Roebuck has undertaken with its South Korean partners and was completed in 8 weeks from agreeing heads of terms.
Palmer Capital and SEDCO Capital have bought an Eddie Stobart distribution warehouse on Sherburn Enterprise Park in Selby, Leeds for £31.75m, reflecting a net initial yield of 5%, from NFU.
The sale and leaseback forms part of the on-going Stobart portfolio strategy, managed by Roebuck Asset Management and consists of approximately 40 acres, adjacent to Widnes rail freight terminal and Tesco's refrigerated distribution centre. The Property comprises biomass storage and processing compounds, storage and distribution warehousing and a newly built 20,000 sq ft office headquarters for Stobart Biomass. FSP acted for LXI REIT
South African listed investor, MAS REI, with Roebuck Asset Management have successfully acquired Princes Exchange and New Uberior House (PENUH) from Aerium for £71.00m. PENUH is let to the Bank of Scotland plc providing c. 7.50 years UXT and a number of value add opportunities. The acquisition follows the recent sale by MAS REI of the GPU Forward Funding at New Waverley, to Legal and General. Knight Frank acted for MAS REI/Roebuck and CBRE acted for Aerium
Tritax Big Box Reit plc has agreed a forward funding of 844,000 sq ft Eddie Stobart Logistics Warehouse at Midlands Logistics Park (MLP), Corby for £81.80m. The funding, which is conditional on receiving full planning consent, is pre-let to Eddie Stobart for a term of 20 years
£3.40m disposal of Stobart Biomass storage and processing facility, Rotherham, Yorkshire to LXI REIT Plc
A consortium of South Korean institutional investors alongside Roebuck Asset Management have acquired a Tesco distribution centre in Avonmouth for £71.4m
South Korean Investment Manager Capstone alongside Roebuck Asset Management have completed the purchase of Accolade Park, Avonmouth for £62.00m. Roebuck are the appointed UK asset manager to execute a 3-5 year business plan
Roebuck Asset Management has sold the last two remaining industrial assets within the Uddington Portfolio, raising a total of £25m from the disposals over the last 12 months
Stobart Group and Roebuck Asset Management has launched the first phase of its new logistics and business park next to the Crosby-on-Eden airfield in Carlisle
Indian developer the House of Hiranandani alongside Roebuck Asset Management have completed the acquisition of a 61,000 sq ft multi-let industrial asset located on Willow Lane Industrial Estate in Mitcham, south London, the first buy for a proposed long-standing joint venture tie-up
LondonMetric Property's Metric Income Plus Limited Partnership joint venture with Universities Superannuation Scheme has bought a B&Q warehouse in Hull and a Wickes warehouse in Dartford for a total cost of £18.4m reflecting a blended NIY of 6.8%
Roebuck Asset Management has been shortlisted for the Estate Gazette Deal of the Year Award 2016, for the successful disposal of a 47 acres site in Speke to Ford Motor Company. The property was sold for £37.00m, reflecting a 131% uplift in value in three months. There are a further 6 acres of land suitable for mixed use development.
Stobart Group and Roebuck Asset Management have successfully completed the sale of a 47 acre site in Speke to Ford Motor Company. The property was sold for £37.00m reflecting a 131% uplift in value in three months. There are a further 6 acres of land suitable for mixed use development.
Roebuck Asset Management founder on his business idols, work ethic and his loud voice
MAS REI and Roebuck Asset Management have exchanged conditional contracts STPP, with both Aldi and Travelodge at Langley Park, Chippenham. Langley Park was acquired from Hansteen in January 2015 for £32.00m.
Stobart Group and Roebuck Asset Management have signed Ford Motor Company on an agreement for lease and an option to purchase agreement for 47 acres of the 53 acre investment property at Speke in Liverpool.
Stobart Group has completed the sale and leaseback of its 315,000 sq ft distribution centre at Carlisle Airport for £16.925m, completing the first phase of development at the airport.
Stobart has appointed Roebuck Asset Management as asset manager to deliver value to the site, which is adjacent to New Merseyside Retail Park.
M7 Real Estate has bought £10m of UK regional office and industrial assets in two separate transactions from Roebuck Asset Management.
Swiss global financial services company UBS has completed an off-market deal to buy its 150,000 sq ft data centre in Hayes from a private client of Roebuck Asset Management.
A view shared by Hugh Macdonald-Brown, co founder of Roebuck Asset Management, who says that the capital outlay on multilet industrial estates is favourable compared to other asset classes.
F&C Property Growth and Income Fund has bought a Bibby Logistics-let warehouse in Worcester for £6.4m from Roebuck Asset Management
Roebuck Asset Management has been appointed as asset manager for Langley Park, Chippenham, a £32m multi-let estate and development site.
Roebuck Asset Management on behalf of the Stobart Group has disposed of five investment properties realising a total of £13.6m.