BlackRock Acquires Bedfont Industrial Estate

The BlackRock UK Property Fund has completed the acquisition of the Bedfont Industrial Estate from Trehaven Group for £24 million.

The 17 acre site is located one mile to the south of Heathrow Airport and the BA World Cargo Centre. The Estate is currently operated as an open storage site but has planning permission for redevelopment to provide 300,000 square feet of industrial/distribution accommodation. BlackRock was advised by Tudor Toone, Doherty Baines and Graftongate.

Justin Brown, Portfolio Manager for the BlackRock UK Property Fund, said, “The Bedfont Industrial Estate is a well located site with a significant number of options for the Fund to pursue in the forthcoming months. We are excited about the prospects for its future performance within the BlackRock UK Property Fund.”

The BlackRock UK Property Fund invests in a diversified mix of real estate including traditional and alternative property assets. In May, BlackRock (NYSE:BLK) announced it has entered into a definitive agreement to acquire MGPA, the independently-managed private equity real estate investment advisory company in Asia-Pacific and Europe. The planned acquisition will make BlackRock a global real estate investment manager, with pro forma assets under management of approximately $25 billion as of March 31, 2013 and substantial investment teams in the world’s top six markets.

For further information please contact David O'Donovan.

Back to news