Bahrain’s GFH completes $123m sale of UK logistics asset

Bahrain’s GFH completes $123m sale of UK logistics asset

Bahrain's GFH Financial Group completed an off-market sale of UK logistics property Accolade Park to Tritax Big Box Reit for $123 million through its local subsidiary.

Accolade Park is a logistics centre in the UK located in Avonmouth.

Roebuck Asset Management, GFH's UK subsidiary, had acquired the 875,000 square feet property for $84m in 2017 on behalf of a consortium of institutional Korean investors.

The investors accrued more than 20 per cent internal rate of return in advance of target business plan, following "robust income and significant value increase", the group said on Saturday.



GFH has $12 billion of total assets and