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rosstree Real Estate Partners and Bloom have launched a £200m industrial real estate investment fund focused on the South East of England, with an initial £30m investment in a London property.

    The joint venture has acquired Fairview Business Centre in Hayes from A2 Dominion Group for £30m. The 1970s-80s built asset comprises 106,901sqft of industrial space across five units and is 70% occupied by four tenants.

    Initially, the venture will focus on London and the South East, but may expand to regional cities with similar favorable supply-demand conditions. Liam Singh, Crosstree's managing director, said: "We're excited to partner with Bloom in a market that offers attractive investment fundamentals."

    Tom Davies, co-founder of Bloom, added: "This joint venture expands our urban logistics strategy, repositioning underinvested properties into modern warehouses suitable for diverse customers." Sam McGirr, also co-founder of Bloom, said: "Fairview is an excellent first asset, acquired at below replacement cost and located in a regeneration area with undersupply of good quality industrial space."

    The joint venture plans to refurbish the property, installing sustainable features such as solar panels and EV chargers.