news

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.

Vengrove has completed the acquisition of Ashley House, Bognor Regis.

Ashley House has been leased to Livability, a charity committed to enabling people with disabilities to live the life they want to lead. The scheme will provide accommodation and support to adults with learning difficulties.

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.

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.

Vengrove has completed the sale of Link House, Halesfield 6, Telford to an undisclosed investor.

The 134,000 sq ft unit is let to Whittan Industrial Limited who manufacture storage equipment. They have been in occupation since 2002 and have a lease expiry in July 2027.

Vengrove has completed the refurbishment of Unit 1, Kangley Bridge Road, Sydenham and commenced marketing the unit for occupation.

The asset, recently acquired with vacant possession, comprises 13,000 sq ft and is situated in one of South East London’s core last mile industrial locations.

Vengrove has completed the redevelopment of 6 Middle Street in the City of London to provide contemporary new office space that incorporates sustainable and inclusive design at its core.

The development provides Trust for London with a new high value asset, which will provide financial support in their work to improve some of London’s most pressing social issues.

Vengrove has successfully completed the sale of Space 170, Liverpool for £11m, equating to a net initial yield of 6.5%.

The 170,000 sq ft logistics unit is let to regional 3PL operator, Kammac and is located on Edge Lane which is the main arterial route to Liverpool from the M62.