Eagle Industrial Estate in Leeds has been acquired for £3.8m by a £100m multi-let industrial property investment fund.

Managed by property investment company JR Capital and industrial asset manager Chancerygate, the fund has acquired the 55,700 sq ft scheme, which comprises seven light industrial units ranging in size from 3,000 sq ft to 13,000 sq ft and a 0.25-acre open storage yard.

The industrial estate is located on Torre Road, just off the A64 and approximately one mile east of Leeds city centre.

The scheme’s current occupiers include home furnishing business Instore Direct; display and signage specialist BSW; traffic management sub-contractor Premier Traffic Management; and fishing and angling retailer Bobco Fishing Tackle.

The purchase by the fund brings its total investments to circa £50m comprising 650,000 sq ft of industrial space across 12 assets ranging from Newcastle to Northampton.

JR Capital investment manager, Caleb Stewart, said: “This is a welcome addition to our growing portfolio and increases the fund’s presence in West Yorkshire following our acquisition of Sandbeds Trading Estate in Ossett last year. Eagle Industrial Estate is positioned in an excellent urban logistics location, around one mile from Leeds city centre and providing easy access to the M62.”

The fund has a further £50m to spend over the next 12 months and intends to raise further capital. It is targeting multi-let industrial investments across the UK in lot sizes of £3m to £15m.

Chancerygate asset manager, David Tyson, added: “Eagle Industrial Park is home to a number of diverse, well-established businesses and is ideally placed in a prime location. These are exactly the type of strong fundamentals we look for when investing.

“We’re really pleased to have been able to add Eagle Industrial Park to our portfolio in the region and look forward to announcing further investments for the fund across the UK throughout 2021.”

London-based JR Capital is a FCA-registered multi-family office business with a focus on real estate. It provides a platform for its Middle East-based private and institutional clients to co-invest into both the UK and European real estate markets. Founded in 2005 by John Collier-Wright, it has concluded over £2bn of transactions across all sectors.

Chancerygate is the UK’s largest multi-unit industrial developer and asset manager and the only one operating nationwide. The company has offices in Warrington, London, Birmingham and Milton Keynes and its asset management team currently manages in excess of £255m of assets across more than five million sq ft of commercial space in more than 390 units.

Colliers International acted on behalf of Chancerygate and JR Capital, while RY Partnership acted on behalf of the vendor.