Westpoint Enterprise Park Unit p Vengrove via Linkedin

The unit is let to Sadaqat Global, a textiles manufacturer and distributor. Credit: via Vengrove Linkedin

Vengrove concludes Trafford Park sale and leaseback

The London-based investor has bought the 63,500 sq ft Unit 6 at Westpoint Enterprise Park as part of a £150m UK industrial and logistics growth strategy.

The ongoing strategy, launched last November, saw Vengrove Real Estate partner with an undisclosed global institutional investor to launch the VRE Industrial Partners (VREIP) fund, aimed at making investments in UK logistics property.

The Westpoint buy is the third North West acquisition Vengrove has made, both via and independent of VREIP.

Unit 6 Westpoint Enterprise Park is located at Trafford Park and is let to Sadaqat Global, which manufactures and distributes textiles and home furnishings.

The unit was acquired by way of a sale and leaseback for a 10-year term with no break. It is the tenant’s main UK distribution location, according to Vengrove.

Will Hunting, partner and head of investment at Vengrove, said: “This marks VREIP’s third acquisition in the North West and second in Manchester within the M60.

“The joint venture actively seeks exposure to locations with strong fundamentals and favourable supply and demand dynamics and, as one of the UK’s core industrial and logistics locations, Trafford Park typifies this.”

Vengrove was advised on the transaction by BNP Paribas Real Estate, Greenberg Traurig, Watts Group, and Nova Ambiente, part of Nova Group.

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