BCCIM, a joint venture between UK-based real estate investment and development specialist Barwood Capital and independent investment and asset manager Caisson iO, has completed the acquisition of Trafford Park Industrial Estate in Redditch on behalf of the Urban Industrial Income LP (UII).
The purpose-built estate comprises 51,894 sq ft across four industrial units and has a diverse tenant base spanning EV safety training, stainless steel distribution and solar energy equipment. Its acquisition takes the UII portfolio to 11 assets.
Launched in May 2021, UII invests in multi-let and urban industrial assets across key regional locations in the UK. The estate brings UII’s total assets under management (AUM) to c. £84 million, covering c.750,000 sq ft of industrial space.
The off-market acquisition of an established, well-located estate represents a positive outcome within a challenging investment market with historically low transaction volumes and selective buyers.
Redditch is a major commercial and industrial centre in Worcestershire, approximately 14 miles south of Birmingham. The town benefits from access to Junctions 2 and 3 of the M42, approximately five to seven miles north of the estate, providing onward connections to the M40, M5 and the wider UK motorway network.
Located on Trescott Road, the estate offers reversionary potential, alongside opportunities to enhance its long-term performance through active asset management and targeted capital expenditure.
One unit is currently vacant, giving BCCIM an immediate opportunity to invest into the asset by undertaking ESG improvements designed to future proof the asset in line with BCCIM’s sustainability goals.
Jonathon Ellerington, Investment Director at Barwood Capital, commented:
“Trafford Park is a strong addition to the UII portfolio. It offers the combination of resilient occupier demand, strong connectivity and asset management potential that we look for on behalf of UII. We see a clear opportunity to improve the estate while supporting its existing and future occupiers, and we look forward to progressing our plans for the asset.”
James Burgess, Director, Investment Management at Caisson iO, commented:
“Redditch was once the needle-making capital of the world and it remains a thriving home for manufacturing and industry. Securing Trafford Park off market gives UII a well-located estate in a tightly supplied market. Our immediate focus is refurbishing the vacant unit, improving energy performance across the estate and creating space that keeps pace with the businesses that use it.”
Knight Frank and Penningtons Manches Cooper acted for BCCIM, while Aspect Real Estate and Lodders acted for the vendor.
