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 pounds.
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.
Chris Bampton, director, national capital markets, Colliers International commented; “The disposal of Project Yellow concludes the balance of the Bollinwater Estates LLP portfolio, bringing to an end the highly successful joint venture that was set up to invest in industrial assets across the UK.”
David White, partner at Tyndaris Real Estate commented; “This successful sale represents the culmination of a proactive asset management strategy across the portfolio. Our thanks goes to all who have worked to achieve this great result over the past several years”
Colliers International advised the vendor Bollinwater Estates LLP. DTRE advised Vengrove.