Today, Vengrove, the privately owned real estate investment and asset management firm, announces that in partnership with Chenavari Investment Managers, the London based $5.5B AUM alternative asset manager, it has completed the acquisition of Space 170, a 170,000 sq ft self-contained industrial warehouse facility in the centre of Liverpool. The off-market deal was completed for a consideration of £6.8 million.
The acquisition of Space 170 follows Vengrove’s off-market acquisition in November last year of a 150,000 sq ft industrial unit at Stakehill Industrial Estate in Greater Manchester from Legal & General for £8.6 million. These acquisitions highlight Vengrove’s commitment to the UK logistics sector and the firm’s ability to source and transact deals quickly.
Vengrove CIO, Jack Burgess, commented: “The acquisition of Space 170 continues our regionally focused logistics strategy whilst providing our highly experienced asset management team with the opportunity to add value in the short term. We will continue to aggressively target assets with similar dynamics over the coming months by acquiring the right occupational risk in strategic locations at sub vacant possession”.
Vengrove was represented by Buchanan Bond. ADS Real Estate acted on behalf of Parabola