Search
 

Ashtenne Closes Trade Park Fund

LONDON-Industrial property specialist Ashtenne Holdings and AXA Real Estate Investment Managers have achieved a successful first closing of t3, the limited partnership specialising in trade park investments.

By Graham Parker | Updated on September 24, 2001

LONDON-Ashtenne Holdings–the specialist industrial investor–and AXA Real Estate Investment Management–the French-owned fund manager–have successfully launched t3, the first investment vehicle to specialise in the emerging trade park sector. Some £30 million ($44 million) in equity has been raised on the first closing, which will be geared with debt from the Bank of Scotland to assemble a £75 million ($110 million) portfolio.

Trade parks provide purpose-built units that combine warehousing and showroom uses, aimed primarily at businesses like builders’ and plumbers’ merchants, car spares suppliers and office equipment suppliers who deal with trade purchasers as well as the general public. Rents are typically higher than on industrial estates in the same area, but lower than on traditional retail parks.

Anthony Wardle, Director of Ashtenne Trade Park Management said: ‘The trade park market combines the strengths of prime industrial investments with the capital and rental growth potential of out-of-town retail property in its early days. Over the last twenty years retail parks and fashion parks have all been established as new and premium sectors within the property market. T3 intends to be the market leader in this exciting new sector as it develops over the next three to four years.’

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.