The set up, development and long term management of the project will be handled by Sheet Anchor, which is part of commercial property and investment company LCP’s pan-European, managed asset portfolio.

At the same time, LCP will continue investing and developing its own operations with an objective of organic growth between €150m to €300m a year.

Sebastian Macdonald-Hall, Chairman and Co Founder of Sheet Anchor, part of LCP, says: “We are delighted to have raised €500m with Partners Group and look forward to implementing our strategy together.”

“The group continues to expand the size and quality of our pan European management platform, increasing profitability and improving the real estate across all sectors.”

The portfolio will be seeded by three standing stock assets and a pipeline of development sites in major urban conurbations, including Paris, Bordeaux, and Nice.

Christophe Le Corre, President of PROUDREED, says: “We have chosen this historic partnership with Partners Group to accelerate the deployment of new business parks under our "Veellage" brand. For us, the long-term objective is clear: to consolidate our model, standardize the quality of our offer, and to launch new services."

Oliver Fraser-Looen, Savills European Head of Investment, says: “In a highly sought after market, this was a rare opportunity to invest in one of Europe’s most resilient sectors alongside a leading operator with an established best-in-class portfolio. The industrial sector continues to outperform other asset classes in terms of rent collection, rental growth, vacancy rates and tenant retention. We are delighted to be able to put this market leading result for both parties together.”