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Vengrove has completed the acquisition of Erdington Industrial Park, Birmingham from Federated Hermes for £27.2m.

The asset comprises 215,000 sq ft of multi-let industrial across 13 units, as well as 6.1 acres of development land. With regards to the latter, Vengrove expects to be on site shortly, delivering highly specified mid-box units of 42,000 sq ft and 57,750 sq ft with best in class ESG credentials.

Vengrove has completed the acquisition of Unit 6 Westpoint Enterprise Park, Trafford Park, Manchester for VRE Industrial Partners, its UK industrial and logistics strategy.

The property, acquired by way of a sale and leaseback for a 10-year term, comprises a 65,500 sq ft logistics unit let to Sadaqat Global Limited, a manufacturer and distributor of textiles and home furnishings.

Vengrove has completed the off-market acquisition of 365 Four Oaks Road on Walton Summit Industrial Park, Preston.

The property comprises an 85,000 sq ft self contained industrial unit let to Anord Mardix, a manufacturer of critical power solutions for data centres.

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.

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.

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.

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.

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.

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.

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.