Bradford Estates has boosted the number of industrial estates in its property portfolio by 50% following the completion of a strategic acquisition drive.
The business, led by managing director Alexander Newport, has purchased four new multi-let industrial estates totalling 150,000 sq ft, significantly enhancing its commercial property holdings in line with its objective for diversified growth and long-term investment strategy.
Bradford Estates set out to acquire new assets requiring hands on asset management and refurbishment, to align with its long-term investment growth strategy.
The acquisition include the purchase of 15 units totalling 27,000 sq ft at Link 49, Boscombe Business Park, Severn Road, Avonmouth, close to the Prince of Wales Bridge on the outskirts of Bristol. Built in 2022, the units have three significant tenants in a local building contractor, cancer scanning equipment makers as well as a mobility scooter designer alongside other start-ups and SMEs.
It has also bought four units totalling 17,000 sq ft at 325 Bristol Road in Gloucester, with tenants from the automotive and engineering sectors.
The other deals were for industrial estates in Washington, Tyne and Wear, and Peterlee, County Durham.
Newport said: “We are delighted to have completed this significant expansion of our Bradford Industrial portfolio, which represents a major milestone in our growth strategy. These acquisitions perfectly align with our approach of targeting properties which can be enhanced over time within strong local economies.
“Each of these new sites offers exciting asset management opportunities and an excellent spread of occupiers from diverse business sectors. As a historic land and property steward with our heritage going back nearly 1000 years, we are committed to applying our responsive management approach to generate positive improvements in these assets, optimising current performance and ensuring future resilience.”
The acquisition process has been led by Chris Hodson, who joined Bradford Estates as property director earlier this year.
He said: “We have a clear strategy to continue our investment in the multi-let industrial sector and these latest acquisitions into the Bradford Industrial portfolio each offer a diverse range of tenants and strong reversionary potential, aligning with our long-term objectives to deliver both sustainable income and value growth across the portfolio.
“These acquisitions represent an exciting new chapter for Bradford Estates. Each estate presented compelling opportunities that match perfectly with our investment criteria.
“We are grateful for the support of our advisers including Womble Bond Dickinson, Weston Allison Wright, Panovista Asset Management, Fisher German, Metcalf Harland, Russell Property Consultants, AP Investment and The Acquisition Group.”
