BlenCap secures 26% profit in 7 months through Paris Last Mile Logistics disposal

Blencathra Capital completed the disposal of a Last Mile Logistics asset in St Witz, Isle-de-France, Paris for €22m in December 2018 to M7 Real Estate. The sale price reflected a gross yield of 7%.

Prior Blencathra Capital had acquired, structured and financed the investment which is located close to Charles de Gaulle airport on behalf of a London based high net worth (HNW) Investor in May 2018 for €17.5m.

The asset consists of c40,000 sq m of accommodation built in the late 1970s and was multi leased to 4 occupiers at heavily discounted to market rents.