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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.
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.
