Investors
ANGLESEA CAPITAL HAS ACQUIRED OVER £2 BILLION OF UK LOGISTICS REAL ESTATE
Our Approach

Anglesea Capital typically acquires assets through joint venture structures, with the majority of investment capital coming from external investors. Anglesea Capital works with a range of investors, depending on where an investment sits on the risk/ return spectrum. This allows us to be flexible towards Assets under Management, and to remain agile to capitalise on new opportunities versus an inherent bias towards accumulating and keeping assets.

Anglesea Capital co-invests as a minority investor alongside our joint venture partners to provide greater alignment of interest.

Lone Star Funds

A corporate acquisition of 2.3 million sq ft of distribution warehousing across 4 units, along with an initial forward funding of 0.9 million sq ft across 3 units to be developed on a speculative basis. Goodman are retained to act as a development manager in delivery of the 3 speculative units.

Income Producing Assets

Camberley – Watchmoor Park is a 1990’s Business Park totalling 253,865 sq ft on 27 acres. The park is currently multilet to 41 tenants.

Maidenhead – Maidenhead Office Park located in the Thames Valley consists of 7 office buildings built between 1996 – 1998 Anglesea Capital owns 3 out of the 7 buildings – c. 52% by area.

Farnborough – Chester House, Farnborough Aerospace Centre, is a 49,376 sq ft building let to Wirehive and Leidos

Oaktree Capital Management

Building up a 6.2 million sq ft portfolio of high-yielding near prime and secondary assets through 4 separate acquisitions followed by a sale in April 2015 to Logicor, Blackstone’s European logistics platform.

Andover – A 517,371 sq ft single distribution warehouse purpose-built in 2011 for the Co-operative group. A corporate acquisition from Legal & General following downgrades of Co-op credit rating.

Woodstock – A 3.6 million sq ft portfolio of 15 distribution warehouses and a town centre office with high vacancy levels. A corporate acquisition from Lone Star Funds.

Branston – A 973,277 sq ft distribution warehousing estate of 4 units dating from 1920s. Let in their entirety to B&Q, part of the Kingfisher Group. An asset acquisition from Pears Group.

Cowley – A 1.1 million sq ft distribution warehouse and headquarter office built in 1970s and let to Unipart, a leading 3rd party logistics operator. An asset acquisition from a private individual.

TIAA Henderson Real Estate

Prime distribution estate acquired by Henderson Global Investors Limited (now TIAA-Henderson), with Anglesea acting as asset manager.

Hoddesdon RD Park, Hoddesdon is a modern distribution estate located in the North quadrant of the M25 in close proximity to Central London. It is a rarity as a modern distribution park intact within one ownership. It was developed by a joint venture between Scottish Widows and Goodman before being acquired by Henderson.

Unit A – 217,833 sq ft purpose built as a cold/chilled store in 2010. Let to BFS Group Limited, a 3rd Party Logistics operator.

Unit B – 123,905 sq ft purpose-built in 2008 as a document archive storage facility with 22m eaves height. Let to Recall, a document archivist.

Unit C – 78,315 sq ft built to a standard institutional specification in 2007 and let to Cortland Fibron, a cable manufacturer.

Unit G – 39,730 sq ft built in 2008 as a low site-cover unit with substantial yard and let to XPO Supply Chain UK Limited. Occupied by Chep, a provider of pallets on a pooled basis.

Unit J – 191,550 sq ft built to a standard institutional specification in 2007 and let to Culina, a food logistics provider.

The Blackstone Group

Building up Blackstone’s UK logistics holdings from scratch to 11.4 million sq ft of prime and near-prime assets in preparation for the launch of Logicor, their European logistics platform.

Teal portfolio – A 3.5 million sq ft portfolio of 13 modern distribution warehouses acquired from ProLogis.

Triangle portfolio – A 3.6 million sq ft portfolio of 17 modern distribution warehouses acquired from London & Stamford.

Bolt-on acquisitions – 4.3 million sq ft across 12 units acquired as a single assets on a piecemeal basis through corporate and asset acquisitions.

London & Stamford Property Limited

Building up a 5.2 million sq ft portfolio of prime distribution assets in a joint venture with London & Stamford Property Plc (now LondonMetric).

Radial Portfolio – A 3.3 million sq ft portfolio of 16 prime Midlands distribution assets acquired in a corporate acquisition from Warner Estates Plc in a consensual restructuring with their lenders HBOS.

Lojix portfolio – 0.9 million sq ft of 5 prime South-East distribution assets acquired in a corporate acquisition from Harbert Management Corporation.

Dunhill Portfolio – 1.0 million sq ft of 5 prime South-East distribution assets acquired in a corporate acquisition from a property company advised by AEW Europe and Tristan Capital Partners.

Bolt-on acquisition – A 213,254 sq ft vacant Midlands distribution warehouse acquired from Nippon, the previous occupier.

Rockpoint Group

Amalgamation of a 5.0 million sq ft mixed-use portfolio of 24 assets in a joint venture with Rockpoint Group. The high yielding secondary assets provided an income to support a lease-up of a portfolio of vacant distribution assets. 2.4 million sq ft of assets were sold individually following completion of asset management initiatives, and the remainder of the portfolio was acquired by Lone Star Funds in 2013.

Modern Assets – 10 newly built vacant distribution warehouses totalling 3.0 million sq ft previously acquired by Rockpoint Group from Gladman developments.

Secondary Assets – 14 high-yielding office, retail and industrial assets totalling 2.0 million sq ft acquired from Scottish Widows Investment Partnership.

Intermediate Investment Group

Capabilities

Anglesea Capital provides a comprehensive range of property services to our partners.

RESEARCHING TRENDS

Identifying and researching trends in the UK investment market

DEAL ORIGINATION

Utilising Anglesea Capital's network of contacts to secure off and on–market opportunities

DEFINING PLANS

Defining business plans at acquisition, in line with the return aspirations for the investment

ORGANISING FINANCE

Organising (or reorganising) capital structures to finance acquisitions

ASSET MANAGEMENT

Understanding the needs of occupiers and the investment consequences to identify strategic asset management initiatives

PROPERTY MANAGEMENT

Providing a full range of property managment reporting services

FINANCIAL REPORTING

Providing and tailoring our reporting services to specific requirments

DISPOSAL STRATEGIES

Executing disposal strategies on an asset or corporate basis

DEVELOPMENT MANAGEMENT

From site assembly and planning onto construction and through to completion, the management of the complex development process to achieve project success

Case Studies

The Radial Portfolio
Anglesea Capital sourced this off-market deal as a consensual restructuring of a joint venture between HBOS and Warner Estates Plc… Read more
The Radial Portfolio

Partner: London & Stamford Property Limited

Anglesea Capital sourced this off-market deal as a consensual restructuring of an overleveraged joint venture between HBOS and Warner Estates Plc.

We identified the portfolio as having very high quality assets in prime locations, but underperforming occupationally due to the inability of the current owners to invest in the portfolio.

The Radial Portfolio was acquired for £210 million in 2010, equating to an 8.75% net reversionary yield. Within 12 months Anglesea Capital undertook lease extensions or lettings on over 50% of the 3.4 million square foot portfolio.

The portfolio was sold to Blackstone in 2011 for £265 million with Anglesea Capital remaining involved. Anglesea Capital subsequently helped Blackstone grow their pan-European logistics platform, Logicor.

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Unit 5220, Magna Park Lutterworth
Anglesea Capital acquired this vacant unit from the owner occupier Nippon Express for £9.2 million… Read more
Unit 5220, Magna Park Lutterworth

Partner: London & Stamford Property Limited

Anglesea Capital acquired this vacant unit from the owner occupier Nippon Express for £9.2 million. The building was over 20 years old and Anglesea Capital undertook a £0.9 million refurbishment programme whilst simultaneously marketing for occupation. The building was let upon refurbishment to Syncreon, a third party logistics company, achieving an 8.6% stabilised yield on the total investment.

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Investment Criteria

Anglesea Capital has flexible investment criteria depending on where we perceive relative value in the logistics and industrial market.

Single assets or portfolios of any size
Standing investments either leased or vacant
Land and development on a speculative or
pre-let basis
Logistics facilities from 25,000 square feet or larger
All quality of space
All UK locations

Sustainability

We take a proactive forward-thinking responsible approach to minimise the impact of our assets and developments on the environment.

We seek to future proof our developments by considering the carbon impact of our development from inception through to use – prioritising:

- Efficient Carbon and Energy Use
- Ecology and Sustainable Drainage
- Health and Wellbeing

For enquiries relating to investment opportunities:

info@angleseacapital.com