Barkby Group has announced a joint venture with Meadow Partners to build a £250m property portfolio of roadside community amenities.
European law firm Fieldfisher has advised Barkby, a London AIM-listed roadside real estate business, on the formation of a joint venture (JV) with real estate private equity manager Meadow Partners LLP, to acquire and develop a portfolio of UK-based roadside real estate assets.
The JV aims to create a substantial portfolio of modern roadside real estate assets worth £250m and delivering valuable community amenities, including EV charging.
Meadow, which is based in New York and London with US$6.2bn gross assets under management, will initially own and fund 97% of the JV, while Barkby will own and fund 3% and has the option to increase its ownership to 10% within the first 12 months following the JV’s establishment.
Barkby also intends to change its name to ‘Roadside Real Estate plc’ to reflect its strategy of institutionalising a new asset class within the real estate sector.
Barkby has successfully developed a small number of roadside sites as proof of concept. The JV will focus on acquiring sites where it can offer consumers a mix of drive-thru, ‘foodvenience’, local logistics and trade counter businesses alongside opportunities to increase EV charging facilities.
