Kamco Invest Group and M7 Real Estate (“M7”), the pan-European investor and asset manager, have completed the acquisition of a further four office buildings via four separate transactions in central London and key regional locations across the UK for a combined value of over £120 million.
The portfolio comprises Enterprise House, a single let building in Paddington, London which is occupied by Network Rail on a lease with 12 years remaining; Janus House in Basildon, an HQ building with eight years unexpired; B1 on Summerhill Road, Birmingham, which benefits from 100% government-backed income; and CP 15 & 25 Crossways Point, Dartford, comprising two fully let modern HQ buildings.
The properties, which comprise a total of over 290,000 sq ft, are fully let to occupiers with strong credit ratings on long leases, including the NHS, Secretary of State for Housing, Communities & Local Government, Network Rail and Mazda Motors UK.
M7, on behalf of Kamco Invest Group, has acquired a total of seven UK offices assets this year in line with their strategy of investing in long let office buildings in attractive locations with existing investment-grade tenants, to provide secure risk adjusted returns with a focus on long-term income streams.
Mohammad Al Othman, Executive Director of Real Estate at Kamco Invest, said: “We are motivated by these acquisitions, which are in line with our strategy to grow Kamco Invest’s real estate platform by continuing to invest in institutional-quality, prime and regional UK office assets. Each of the properties is occupied by creditworthy tenants, each providing a secure, long-term income stream to our investors.
“Kamco Invest continues to develop its real estate investment strategy by acquiring long-leased, single and multi-let, Grade A office properties occupied by investment-grade tenants. Kamco Invest’s partnership with M7 Real Estate has proven to be mutually beneficial and further future growth is anticipated.”
David Ebbrell, Chief Executive of M7 Real Estate, added: “We are really pleased to continue our partnership with Kamco Invest Group with the acquisition of a further four office properties. These transactions demonstrate our confidence in carefully selected office assets and we have now assembled a sizeable portfolio of high quality properties generating long term income which are situated in attractive office markets. We look forward to managing these assets and adding to the portfolio with suitable assets going forward.”
M7 and Kamco Invest Group were advised by Avision Young, Kimmre, Gerald Eve and Addleshaw Goddard.