ARGO Real Estate has acquired the Harp Trading Estate in Trafford Park, Manchester, for an undisclosed price as part of its brown-to-green urban logistics strategy with Blue Coast Capital.
The 78,131 sq ft multi-let industrial estate comprises 20 units ranging from 2,829 sq ft to 8,228 sq ft. The estate is fully let to 15 tenants and offers significant reversionary potential, according to ARGO.
Mark Kelly, head of asset management at ARGO Real Estate, said: “Located in one of the UK’s most important urban logistics hubs, Harp Trading Estate presents a strong opportunity to unlock value through active asset management and capture rental growth in a supply-constrained market. Through enhancing its sustainability credentials, working with occupiers to improve their units and lower their operating costs, we expect to capture significant reversion.”
Crispin Gandy, CEO of ARGO Real Estate, added: “As a co-investor into every one of our deals, our conviction in this brown-to-green strategy is further demonstrated through this transaction. The acquisition of Harp Trading Estate is exactly the kind of opportunity we and Blue Coast Capital are seeking as we build our £500m multi-let urban logistics platform.”
Newmark represented ARGO Real Estate and CBRE and Knight Frank advised the vendor.
