Vengrove secures third acquisition for VRE Industrial Partners fund

Vengrove has completed the acquisition of Unit 6 Westpoint Enterprise Park, Trafford Park, Manchester for VRE Industrial Partners, its UK industrial and logistics strategy.

The property comprises a 63,500 sq ft logistics unit let to Sadaqat Global Limited., a manufacturer and distributor of textiles and home furnishings.

It was acquired by way of a sale and leaseback for a term of 10 years with no break and is the tenant’s key UK distribution location.

Will Hunting, Partner & Head of Investment at Vengrove, commented, “This marks VREIP’s third acquisition in the North West and second in Manchester within the M60. The JV 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, LLP, Watts Group Limited, and Nova Ambiente (part of Nova Group, GBC).