A COMPANY representing a group of South African investors has acquired an industrial site in St Helens worth almost £7m.

British Capital Property Limited (BCPL), which is registered in Guernsey, has also bought a site in Wolverhampton.

Both deals were backed by the Midlands retail team of Santander Corporate Banking.

The St Helens property is a modern industrial warehouse facility, comprising 109,180 sq ft, located in Lea Green, which was acquired for £6.87m.

It is currently let to McBride Group, which is one of Europe’s leading providers of private label household and personal care products.

BCPL also purchased a 130,417 sq ft modern distribution warehouse in Wolverhampton for £8.35m, which is currently let to Russell Hobbs.

Santander has agreed to provide BCPL with a multi-million pound term facility to support the acquisitions. This new relationship was managed by Santander’s real estate team in Birmingham.

Jack Barrett, from Cornerstone Asset Managers, BCPL’s investment manager, said: “We are delighted with the acquisitions and the support that we have received from Santander Corporate Banking.

“We feel the acquisitions provide a solid platform for the company to meet its investment objectives, which include achieving stable, and growing income returns, above inflationary capital growth, and currency diversification for South African resident investors.

“This is the first time we have dealt with Santander, and we have been very impressed by the time the bank’s real estate team in Birmingham took to understand our business and needs before providing a bespoke solution.

“We look forward to working with Santander on future acquisitions.”

Commenting on this new relationship, David Sheldon, real estate relationship director at Santander’s West Midland’s corporate banking centre, said in a statement: “These are British Capital’s first acquisitions in the UK, and we are pleased to be providing the support they require and in doing so providing the roots for a long-lasting relationship.”