Marchmont Investment Management and Peveril Securities Limited, has acquired The Moeller Complex in Aylesbury for c. £11m. The site is situated within the established Gatehouse Industrial Area and provides immediate developable land in a supply constrained market. Marchmont will be working with Pembury Real Estate in delivering this project for Peveril Securities.
The nine-acre site currently consists of land, seven industrial and office units. Marchmont are looking to speculatively develop a Grade A Mid Box Logistics scheme to take advantage of the dearth of quality accommodation in a well-established South East industrial market.
This purchase gives Marchmont further exposure into this growth sector after successfully disposing of their logistics portfolio last year. The intention is to develop the site with units ranging between 20,000 and 60,000 sq ft, with the anticipation to deliver Grade A industrial space to occupiers within 12 months from securing planning consent.
Cameron Fraser of Marchmont commented “Aylesbury and the surrounding areas suffer from a severe lack of industrial supply and a depth of occupational demand, making Aylesbury an exciting prospect for investors seeking sustained rental growth in the future. The investment is entirely aligned with our strategy to secure assets in urban locations where the supply and demand imbalance is particularly acute.”
The purchasers were advised by Tom Homan at DTRE LLP. Vendor was Aviva, who were advised by Adam Creighton at JLL.