Rankeilour secures over £20m for UK warehouse fund

The additional capital gives the fund total spending power of around £40m to invest in single- and multi-let industrial and retail warehouse properties across Scotland and the North of England.

The fund has already acquired one asset in Cumbernauld for around £5.5m in an 0ff-market deal, with another two acquisitions expected to close imminently, after which the fund will be around 30% invested.

Rankeilour plans to spent the rest of the capital next year, targeting value-added warehouse opportunities between £1m and £6m.

Rankeilour Properties director Neil Crombie said: “The success of this capital raising demonstrates the depth of private investors’ appetite for high-yielding warehouse assets.

“With interest rates rising and the investment market softening, we are well placed to deploy into attractive opportunities in supply-constrained markets, where occupier demand for well-located assets at attractive rents remains strong.”

In May, Rankeilour Properties appointed industry veteran Valentine Beresford as non-executive chairman of its UK warehouse fund.