Tritax London Logistics Fund, a UK open-ended industrial and logistics property fund focused on Greater London, has raised approximately £400 million in new equity and grown to approximately £1.07 billion. The raise was completed ahead of schedule and at the top end of its target range, taking the fund closer to its goal of roughly £1.5 billion by 2028.

The fund is managed by Tritax Management LLP, which has about £9 billion of assets under management and is majority owned by Aberdeen Group. It began as the Airport Industrial Property Unit Trust and passed to Tritax in 2023, and has grown about 65% since.

The portfolio holds 22 assets totalling more than 2.3 million sq ft, after three acquisitions in the past 12 months. It invests in multi-let industrial estates, last-mile logistics hubs and strategic mid-box properties inside the M25, with a significant concentration around Heathrow.

The structural driver is Greater London’s supply-constrained industrial and logistics market. About 70% of the investor base now comes from outside the UK, including Australia, Switzerland, Japan, Singapore, the US and the Netherlands.

Fund director Nick Ireland said, “London logistics is an easy concept for global investors to understand. It’s about supply and demand imbalance, population growth, e-commerce and last-mile logistics.”

For the 12 months to 30 June 2026, the fund reported a total return of 15.2%, with annualised returns of 7.9% over three years and 3.1% over five years. It plans to raise a further £150 million over the next 12 months in response to institutional demand for London industrial and logistics exposure.

Projects include planning consent for a 10-acre site near Heathrow, a 115,000 sq ft pre-let at Poyle and a 122,000 sq ft agreement for lease with WFS at Heathrow Airport.

For the sector, the raise shows institutional capital, much of it from overseas, continuing to back London logistics assets around Heathrow and inside the M25.

Source: Pulse 2.0 / IPE Real Assets / Estates Gazette / Bisnow