news

12/5/22

VRE Industrial Partners Acquires First Asset in London

Vengrove has completed the acquisition 49-52 Standard Road, Park Royal for VRE Industrial Partners (VREIP), its UK value-add industrial and logistics strategy.

The asset comprises a 33,000 sq ft urban logistics unit in London’s prime industrial and logistics location. It is currently let to a cosmetics wholesaler, with a lease expiry in December 2022.

It is VREIP’s first acquisition in London, as it seeks to assemble a regionally-balanced UK portfolio.

25/2/22

Vengrove Sells Multi-Let Industrial Estate to US Investor

Vengrove has sold Tokenspire Business Park, Beverley to Ardent UK for a price of £15.55m.

The sale of the 306,000 sq ft multi-let industrial estate follows an active asset management plan which included the completion of 29 separate lease events during the 2.5 year hold period.

25/2/22

Quickfire North East Industrial Letting

Vengrove has completed the letting of Unit 7 & 8, Foxcover Distribution Centre, Seaham to warehousing and distribution specialist, Panther Warehousing Limited.

The tenant committed to the 10 year lease within one month of Vengrove acquiring the asset following interest from several potential parties.

7/2/22

London Trophy Asset Sale Success

Vengrove and WeWork Capital Advisors have completed the £148 million sale of 120 Moorgate to Sun Venture.

The development which included a new façade, has c. 113,000 sq ft of Grade A office accommodation, retail and leisure space. The offices are let to WeWork whilst Barclays occupies a flagship retail banking unit and the leisure unit in let to premium gym operator, Third Space.

7/2/22

Vengrove Completes North West Industrial Sale

Vengrove has sold Howley Industrial Park, Warrington to Mileway.

The sale immediately followed the completion of a lease to the award-winning modular construction business, ESS Modular, who have committed to a 10 year term.

7/1/22

Vengrove Closes Senior Debt Facility and Acquires Further Assets for VREIP

Vengrove has completed the acquisition of two additional logistics assets in Manchester and Sheffield for VRE Industrial Partners (VREIP), in separate off-market transactions.

Concurrently, VREIP has closed a senior debt facility with ICG Real Estate, financing these assets alongside the other seed industrial properties, as well as providing a financing facility for future acquisition tranches.

17/11/21

Double Industrial Sale Achieved

Vengrove has completed the sales of Bloxwich Industrial Estate, Walsall and Edison Courtyard, Corby to separate purchasers for a combined acquisition price of £17m.

Both assets were comprehensively refurbished and subsequently, 15 lease transactions were secured over a 2 year period.

15/11/21

Vengrove Launches Latest Industrial Value-Add Venture

Vengrove has agreed a partnership with a global institutional investor, launching a UK focussed value-add industrial and logistics strategy.

VRE Industrial Partners (VREIP) is aiming to assemble an initial portfolio of £150m and has completed the purchase of the seed assets, with further follow-on acquisitions in solicitors’ hands.

26/7/21

Construction Works Commence at EdCity

EdCity, the innovative mixed-use scheme in White City, has now commenced works on site.

The scheme will deliver a selection of educational facilities for all ages, new office accommodation and 132 affordable homes. The development will be completed in two phases over the next 4 years.

12/7/21

Vengrove Concludes Portfolio Exit

Vengrove has sold Oscar House, Tyseley for a price of £4.46m representing 6.15% NIY.

The sale concludes the business plan of Project Yellow, a portfolio comprising 6 regional industrial assets acquired in 2018.