Transaction Type
Unconditional site acquisition
Investment Category
Equity
Key Risks Considered
Planning, Development, Occupier Market, Investment market
Value Add
- Planning gain arising from replacing a small existing office asset with a proposed development of c.80,000sqft of light industrial space in 10 units, close to Gatwick Airport
- Construction
- Letting/ pre-letting to occupiers
- Exit to institutional investor
Acquired
July 2019
Status:
Unrealised
Blacklight sourced and acquired the six acre site unconditionally and has largely completed the Business Plan following receipt of a planning consent in 2021. The scheme is currently under construction, partly pre-let, and under offer to a US fund, with an exit anticipated in 2022.
