BCCIM, a joint venture between Barwood Capital and Caisson iO, has completed the acquisition of Trafford Park Industrial Estate in Redditch on behalf of the Urban Industrial Income LP (UII) for an undisclosed price.
The estate provides 51,894 sq ft across four industrial units and has a diverse tenant base spanning EV safety training, stainless steel distribution and solar energy equipment.
One unit is currently vacant at the estate, giving BCCIM an opportunity to invest into the asset by undertaking ESG improvements designed to future proof the asset in line with BCCIM’s sustainability goals.
Launched in May 2021, UII invests in multi-let and urban industrial assets across key regional locations in the UK. The estate brings UII’s total assets under management to circa £84m, covering circa 750,000 sq ft of industrial space.
Jonathon Ellerington, investment director at Barwood Capital, said: “Trafford Park is a strong addition to the UII portfolio. It offers the combination of resilient occupier demand, strong connectivity and asset management potential that we look for on behalf of UII. We see a clear opportunity to improve the estate while supporting its existing and future occupiers, and we look forward to progressing our plans for the asset.”
James Burgess, director, investment management at Caisson iO, added: “Redditch was once the needle-making capital of the world and it remains a thriving home for manufacturing and industry. Securing Trafford Park off market gives UII a well-located estate in a tightly supplied market. Our immediate focus is refurbishing the vacant unit, improving energy performance across the estate and creating space that keeps pace with the businesses that use it.”
Knight Frank and Penningtons Manches Cooper acted for BCCIM and Aspect Real Estate and Lodders acted for the vendor.
