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3/11/19

Vengrove Sells North West Industrial Single Let

Vengrove has successfully completed the sale of Derwent House, Workington. The sale followed a lease regear whereby the tenant, Acco UK Limited, committed to a new 10 year lease.

The 46,000 sq ft industrial unit formed part of a portfolio acquisition in the summer of 2018 and is the third asset to have now been sold.

3/11/19

Multi-Let Industrial Estate Acquired in West Midlands

Vengrove has acquired Bloxwich Industrial Estate, Walsall for £7.05m.

The multi-let industrial estate comprises seven industrial units arranged as a single terrace extending to 143,000 sq ft. Vengrove has now commenced a capital expenditure programme to institutionalise the common parts, modernise the existing units and let the vacancy, which represents 40% of the estate by floor area.

3/11/19

Vengrove in Multi-Let Industrial Aquistion

Vengrove has purchased Tokenspire Business Park, Beverley from Regional REIT for £11.1m.

The multi-let industrial estate comprises 310,000 sq ft across multiple units and 24.4 acres. The estate is let to 33 tenants with no single occupier representing more than 20% of total income. There are a mix of unit sizes, from 1,000 sq ft to 50,000 sq ft, providing exposure to a wide range of leasing volume as well as offering flexibility to accommodate occupier expansion.

Vengrove intends to begin the necessary refurbishment programme as well as develop 40,000 sq ft of new build industrial.

19/10/18

Vengrove Grows Urban Logistics Portfolio

Vengrove has acquired an industrial asset in Warrington from global logistics company, XPO Logistics.

The property comprises 168,000 sq ft across three industrial units and an office and is currently occupied by XPO Logistics who will be vacating the property in Q1 2019. Vengrove plans to re-position the asset by demolishing one of the units and the office as well as refurbishing the remaining two units over a 3-month period.

The refurbished units will be ready for occupation by the end of Q2 2019. One of the units will be of 78,000 sq ft and the other unit has optionality to provide space between 9,000 and 45,000 sq ft. CBRE and B8 Real Estate have been appointed by Vengrove, as letting agents.

15/8/18

Vengrove Partners with Charity Ark on Mixed-Use Redevelopment in Shepherd’s Bush

Vengrove has partnered with Ark and Hammersmith & Fulham Council on EdCity, the redevelopment of Ark Swift Primary Academy and Harmony Neighbourhood Nursery to create an ambitious new mixed-use development with a focus on education.

EdCity will consist of a redeveloped two-form entry Ark Swift Primary Academy, a 75-place nursery for Harmony Neighbourhood Nursery, a Youth Zone centre and an expanded Adult Education and Community Learning Centre. Additionally, 97,000 sq ft of affordable office accommodation will be created, to be set aside for education and social innovation charities. The goal is to create an education hub in West London, where like-minded and mission-aligned organisations can collaborate to enact positive change. The hub will also include 132 residential units, of which 50% will be affordable housing.

15/6/18

Vengrove Acquires £30m Industrial Portfolio

Vengrove has acquired a regional portfolio of six single-let industrial units spread across the Midlands and North of England from Bollinwater Estates LLP, a joint venture majority backed by Tyndaris Real Estate, for a total consideration of £30 million.

Codenamed Project Yellow, the portfolio extended to 777,000 sq ft in locations such as Redditch, Birmingham, Wolverhampton, Seaham, Workington and Billingham, and includes tenants such as CEVA, Meggitt Aerospace PLC, Sims Group Limited and Speciality Steel (UK) Limited.

23/3/18

Discount Retailer Moves in to 170,000 sq ft Distribution Warehouse

TJ Hughes, the leading discount retailer, has relocated to Vengrove’s Space 170 distribution warehouse in Liverpool. The move involves a consolidation of the company’s warehousing distribution operations into a single building and forms part of its wider growth strategy.

27/1/18

Vengrove Completes £8m South Wales Distribution Centre Sale

Vengrove has completed the sale of South Wales Distribution Centre to M7 Real estate for £8,070,000.

South Wales Distribution Centre is situated between Swansea and Cardiff on the established Kenfig Industrial Estate. The facility has prominence to the M4 which runs adjacent to the site.

The 500,000 sq ft unit was acquired in 2015 for £2,000,000 and underwent a £2,500,000 refurbishment. Lettings to Bunzl and Amazon followed which resulted in a fully let scheme.

11/8/17

Vengrove Acquires Freehold Industrial Investment in Telford

Vengrove has acquired the freehold interest in Halesfield 6, Telford for £5,250,000, reflecting a net initial yield of 11.85%.

The property comprises a 120,000 sq ft industrial unit, along with a standalone office of 13,000 sq ft. Let to Whittan Industrial Ltd, the leading storage product manufacturer, until July 2027, the investment provides an annual rental income of £664,788.