USS buys Bishop's Stortford industrial

By Paul Norman - Tuesday, March 13, 2018 6:00

Universities Superannuation Scheme (USS) has further consolidated its industrial holdings with the acquisition of the Bishop’s Stortford Industrial Estate in Raynham Road for just under £14m from Cambridge-based investor and developer Howard Group.

The site, which covers 101,374 sq ft and is fully occupied with tenants including Screwfix and Edmundson Electrical, has recently undergone significant redevelopment. Located close to Stansted airport and Junction 11 of the M11, the industrial estate provides excellent access across the UK and internationally.

The investment strengthens USS’s holding in Bishop’s Stortford, with the fund already owning the two adjoining estates on Raynham Close and Myson Way. The fund’s total holding in the town now comprises 181,095 sq ft.

Andrew Pettitt, Fund Manager - Industrial at USS said: “USS’s increase in exposure to the industrial sector is in line with the fund’s wider strategy of acquiring well located multi-let estates in the south east. In addition to the neighbouring estates, this new acquisition creates a single diverse industrial holding with real asset management potential.”

Colin Brown, Director – Portfolio Development at Howard Group said: “Howard Group is well-equipped to identify opportunities and we’re not afraid to make bold acquisitions and disposals. The sale of Raynham Road to USS allows us to direct further funds and time into our substantial development programme featuring projects such as Mount Pleasant House and Unity Campus in Cambridge.”


Get in Touch
+44 203 205 4600