The deal comprises eight multi-let industrial properties with a diverse geographical spread throughout the UK, and a gross internal area of 497,715 ft2 (46,240 m2) across 96 units.

The portfolio is let to 78 tenants, including; XPO, Screwfix, Howdens, Brewer, Tool Station and Wolseley.

Paul Hodgson, managing director of Eskmuir, said: 'We are always looking at ways to deliver strong returns to our investors. The Lunar Portfolio is a great opportunity to increase our weighting in industrial assets, a sector which is continuing to benefit from the rise in e-commerce and the need for storage space.

'Multi-let properties are particularly receptive to Eskmuir’s active asset management approach. The Lunar Portfolio’s split across the UK also fits in well with our own diversified portfolio of assets which are equally spread out across the country. We look forward to working with the occupiers across the portfolio and ensure they have the facilities to allow them to thrive and grow.'

Earlier this year Eskmuir sold a 42,722 ft2 industrial asset in Park Royal, West London, for more than £15 mln to Capital Industrial. The proceeds from that sale are being used for the Lunar Portfolio deal.

Assets included within the portfolio are Etna Court in Falkirk, Inkerman Street in Sunderland, Kingfisher Business Park in Bootle, Motorway Estate in Crick, Lincoln Road Industrial Estate in Peterborough, Spinney View in Northampton, Great Western Trade Park in Swindon, and Waterside Business Park in Witham. The average catchment population within a 60-minute drive-time of the portfolio is 4.1 million.

JLL acted on behalf of IPIF while Eskmuir Properties were represented by Lewis Ellis.