Kames Capital has received commitments from investors for an additional £100m of equity for its UK Active Value Property fund.

The closed-ended £150m fund, which launched in October 2013, is now targeting a year-end close at £300m.

Kames also revealed the fund had completed the £3.2m purchase of eight industrial units in Leighton Buzzard, south Bedfordshire, at a net initial yield of 10.2%.

Fund manager Philip Bach said the units were located in an area that has excellent prospects because of its proximity and links to the UK national road network.

He said: “The industrial units are located in an established industrial area with limited supply of available space.”

The fund is focused on buying secondary stock in the £2m to £10m price bracket. It tragets a yield of 8-10% per annum.