Black Country industrial park snapped up by JV
A Bilston industrial park has been acquired in an undisclosed deal by Colhope (Beldray), a joint venture between real estate investor Colmore Capital and wealth manager Stanhope Capital.
The multi-let Beldray Industrial Park, originally acquired by the TT Group in 2016, comprises four separate industrial units totalling 81,519 sq ft.
Matt Grainger, director at Colmore Capital, said: “We are delighted to conclude the acquisition of Units 1-4 Beldray Industrial Estate in Bilston, which marks the first completed transaction by Colmore Capital’s new joint venture with Stanhope Capital. The demand for small to medium sized industrial units in established urban locations remains robust, which should support continued rental growth.”
It’s the latest sale in a string of industrial transactions by TT’s property investment team, after its £12.6m purchase of Wessex Trade Centre in Poole and a £33m deal for five muti-let industrial estates covering 386,000 sq ft in Hatfield, Biggleswade, and Bury St Edmunds.
TT Group was advised by ADS Real Estate.