B8RE Advises on Urban MLI Portfolio Acquisition

BGO and Peloton Real Estate have acquired a portfolio of two urban multi let industrial estates situated in Warrington and West Bromwich.

Melford Court , Warrington and Alpha Park , West Bromwich, comprise 276,907 sq ft of urban industrial situated in close proximity to major population centres with excellent connections to the national motorway network. Significant occupiers include Samworth Brothers, Dreams and Hire Station.

Warrington and West Bromwich are both markets with a major undersupply of good quality accommodation for tenants, providing excellent opportunity to secure rental growth. A refurbishment programme will be undertaken across the estates to improve the building quality and increase EPCs to a minimum of a B rating.

Gareth Purcell, BGO,  says – “ The purchase of these two estates underlines our targeted approach to acquiring assets with excellent prospects for growth in markets with very limited new construction and strong occupational demand.”

Nick Okell, Investment Director at Peloton Real Estate adds: “We are delighted to have secured this portfolio working alongside our partners BGO. The acquisition is an important milestone in our strategy to aggregate a high performing portfolio of multi let industrial with BGO.”

BGO and Peloton Real Estate were advised by B8 Real Estate and Taylor Wessing

Simon Wood, investment director at B8RE, who advised on the acquisition said “the acquisition presented a very rare opportunity to buy 2 well configured estates in prime established locations where vacant supply is extremely limited and occupational demand strong. B8 Real Estate look forward to remaining involved with Melford Court in Warrington assisting Peloton and working on the proposed refurbishment and letting campaign”