ARGO Real Estate has acquired Beckton Trade Park in East London as part of its brown-to-green urban logistics strategy with Blue Coast Capital for an undisclosed price.
The circa 100,000 sq ft multi-let industrial estate, which was built in the 1980s, comprises 14 units ranging from circa 4,000 sq ft to 11,000 sq ft.
The estate will be quickly repositioned to offer best-in-class sustainable accommodation with reversionary potential. ARGO acquired the asset from a UK institution.
James Brown, investment manager at ARGO Real Estate, said: “Beckton Trade Park presented another compelling opportunity to acquire an asset with excellent underlying fundamentals where we can unlock significant income and capital appreciation through our proactive and hands approach to asset management.”
Crispin Gandy, CEO of ARGO Real Estate, added: “When we launched this venture with Blue Coast Capital, we set out to create a best-in-class urban multi-let industrial platform of scale that delivers and asset manages repositioned sustainable accommodation fit for modern occupiers. Beckton Trade Park is another clear example of our strategy in action, demonstrating the quality of opportunities we are securing in excellent locations where our brown to green repositioning strategy can unlock significant long term value.”
ARGO was advised by Newmark and Walker Morris. ACRE Capital Real Estate advised the vendor.
