July 27, 2017
Palmer Capital has had an excellent year so far having deployed circa £160m across the risk/reward spectrum for the year to date. Recent acquisitions including the acquisition of Debenhams Distribution Centre located at Kingston Park in Peterborough for £86.4m, reflecting a net initial yield of 5.8% and an acquisition of a portfolio of 38 assets acquired for £11.9m from Aberdeen Harbour Board.
Palmer Capital have an additional £300m to deploy into UK Real Estate and is currently looking to acquire assets which are approx. £2m – £200m and play to the following three investment themes:
- LONG DATED INCOME: Buying assets with >10 years of income with the ability to add value through management initiatives.
- URBAN ASSET CREATION: Acquiring UK urban assets that can be redeveloped into new residential (for sale or rent), PRS or office assets.
- PLANNING GAIN: Acquiring primarily brownfield sites in major UK cities, where planning consents can be readily obtained for residential, and then sold.
Top Recent Deals
Income Focused
Jabiltie, Belevedere
Acquisition of Jablite’s HQ on Anderson Way, Belvedere for £8.7m from a JV between Brydell Partners and Brockton Capital Fund III (“BC FIII”), reflecting a net initial yield of 5.25%. 
Value Add / Opportunistic
Acquisition of Crompton Way, Manor Royal Industrial Estate, Crawley for c. £5m.
The site comprises 2.1 acres on one of the South East’s most established and recognised industrial areas, prominently located 5 minutes from Gatwick Airport and in close proximity to both the M23 and M25.
Residential Planning
Kingsmead Business Park, Thame
Kingsmead Business Park on Howland Road has been acquired for £11.3m from Tesco Stores Ltd.
The site has potential for a wide range of uses and is located in a predominantly residential area, within easy walking distance of the attractive town centre.
The acquisition was funded by Palmer Capital and is the third asset in the newly created Palmer Capital Development Fund IV, a programmatic joint venture with CBRE GIP. The fund has a further commitment to invest up to £250m in development projects across the UK.
If you have opportunities which fit the above requirements then do get in touch with:
- Charles Allen, Acquisitions Director charles.allen@palmercapital.co.uk or 0207 409 5500.
- Sam Fleming, Associate Director Sam.Fleming@palmercapital.co.uk or 0207 409 5500.