news

8/7/20

Vengrove Secures Planning for Office in the Heart of Soho

Vengrove has secured planning permission for a 115,000 sq ft office scheme, with an ancillary food and beverage offer, at Film House in Soho.

Enabling works will begin in October 2020 and practical completion is set for May 2022.

6/4/20

Vengrove Completes Evolution Sale

Vengrove has sold a 200,000 sq ft logistics scheme on Agecroft Commerce Park, Salford to a global data centre operator for an undisclosed sum.

Evolution consists of two units that were built on a speculative basis to a Grade A institutional specification. The site was the last remaining plot at Agecroft Commerce Park and was originally acquired from the Homes and Communities Agency.

13/3/20

East Midlands Addition to Vengrove’s Multi-Let Industrial Portfolio

Vengrove has acquired the industrial asset, Edison Courtyard, Corby in an off-market acquisition for an undisclosed sum.

The estate is fully let and consists of 16 units ranging from 1,600 – 6,100 sq ft, totalling 57,700 sq ft. There is an immediate necessity to improve brand identity and modernise the appearance. As a result, Vengrove will shortly commence a refurbishment programme of the estate.

5/11/19

Vengrove Completes London Office Sales

Vengrove has completed the disposal of a 45,000 sq ft office scheme on Wharf Road, N1. The sale of the long leasehold interest follows the sale of seven self-contained office suites to a variety of owner occupiers. Purchasers included those from the charity, construction, media and tech sectors.

The combined sales value of the office units and long leasehold interest generated proceeds in excess of £24m.

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 Acquisition

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.

8/4/19

Vengrove Achieves Practical Completion at 51 Eastcheap, EC3

Vengrove has achieved practical completion of the landlord’s works package at 51 Eastcheap on behalf of WeWork Property Advisors.

The scheme comprised a comprehensive refurbishment including a strip back to concrete shell, installation of new M&E services and the infill of circa 50% of the atrium. 51 Eastcheap now offers 89,500 sq ft of Grade A office accommodation, the entirety of which shall be occupied by WeWork, whom are currently on site undertaking their CAT B works.  The new WeWork facility shall be open for occupation during the first week of June 2019.

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 three-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.

21/9/18

Vengrove Divests in Newbury

Vengrove has completed the sale of the last of their holdings at Newbury Business Park. Astor and Benyon House were sold to Telereal Trillium for £5.35m. The tenants included Huawei, Digitas LBI and Viavi Solutions.

The sale follows the disposal of 3 & 4 The Sector & Emerald House earlier in 2018. 3 & 4 The Sector was sold to West Berkshire Council for £17.8m after Vengrove had comprehensively refurbished and repositioned both buildings and secured pre-lets to Cirrus Logic and Edwards Lifesciences. Emerald House was acquired by Lipman Properties following the departure of Vodafone from the building.