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.