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Vengrove has bought Generator Studios in Newcastle from Metnor Group for £6.45m, reflecting a net initial yield of 8.75%. The property has 11 tenants including Hedgehog Lab, Gardiner Richardson, Black and White Engineering and Atlas Cloud.

Vengrove is working on progressive plans to enhance and modernise the property and its services particularly in relation to health and wellbeing. Ideas being discussed include new bike racks, the creation of a small gym or yoga studio, more inspiring communal areas and a café that provides better quality and healthier food and drink options.

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.

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

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.

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.