Having acquired the asset with BLME in 2017, the exit completes the investment cycle and provides our investors with a return in line with the original business plan.
Whilst the wider retail sector is still facing headwinds, the retail warehouse sub-sector has seen significant uptake in investor interest over the past 12 months. This is a result of big box retailers, such as B&Q, part of Kingfisher PLC, trading so strongly through the pandemic along with attractive investor returns when compared to the warehouse and logistics sectors. This provided us with the excellent opportunity to exit the investment and capitalise on the increased activity within the sector.
It has been a privilege working with BLME and our investors, and we look forward to many future partnerships.