Patron Capital adds two properties to its UK investment portfolio

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Keith Breslauer, MD, Patron CapitalPan-European property investor Patron Capital, has continued its UK commercial investment programme with the acquisition of properties in Reading and Leeds.

The pricetag for the two properties – Arlington Business Park in the Theale district of Reading, and The Mint, a Grade A office building in central Leeds – totalled more than £100m, the firm said.

The 40-acre business park accounted for three-quarters of that amount, according to Patron.

That purchase was carried out via a JV partnership with APAM, an asset manager that Patron has partnered with on deals involving more than 500,000 sq ft of predominantly UK office property over the last 12 months.

The Mint is described by Patron as a 120,000 sq ft, grade A office building close to Leeds train station, which Patron and Oxlo Properties acquired for more than £30m.  The previous owner was Leeds developer Deltalord.

It is currently let to such tenants as Asda and Dart Group.

Patron managing director Keith Breslauer, pictured, noted that Patron was able to acquire major properties like these after assembling an investment pot of around £1bn in assets over the past two-and-a-half years.

“The commercial property sector remains a key focus” for Patron, he added, and is “where we will aim to invest over £500m over the next two years”.

Since it was established in 1999, Patron has invested in 56 entities involving more than 65 million sq ft of space in 13 countries.

Investors in the firm’s investment fund include a number of sovereign wealth funds, the endowment funds of various universities, major institutions, private foundations and high net worth individuals located throughout North America, Europe, Asia and the Middle East.

Patron Capital Advisers, the main adviser to the Patron Capital property fund, is based in London, but maintains offices in a number of key cities around Europe, including Barcelona, Milan, Luxembourg and Frankfurt.

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