The company, based on the Shropshire/Staffordshire border, has completed the purchase of 15 units in Avonmouth, close to the Prince of Wales Bridge, on the outskirts of Bristol.
The latest deal is part of what the company describes as a “long-term investment strategy” which has seen the company increase the number of industrial estates in its property portfolio by 50 per cent with the purchase of three other industrial sites.
The estate declined to give a specific figure on the value of the deals, but said the acquisitions were part of a strategy to buy up sites between £1m and £5m.
The estate opened up 10 miles of permissive paths in woodland on its 12,000-acre site in Weston Under Lizard near Shifnal last month.
Alexander Newport, managing director of Bradford Estates, 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 1,000 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
largest acquisition is 76,000 square feet of property at Wear Industrial
Estate in Washington, Tyne and Wear, which includes 12 buildings,
fully let to business occupants ranging from international recognised
businesses to local small to medium sized enterprises.
Also in the northeast, Bradford Estates has purchased two units totalling 30,000 square feet at an estate on Kilburn Drive in Peterlee, County
Durham, which is single let to a timber products manufacturer.
The fourth acquisition is four units totalling 17,000 square feet at 325 Bristol Road in Gloucester, with tenants from the automotive and engineering sectors.
The company says its acquisition process has been led by Chris Hodson, who joined Bradford
Estates as property director earlier this year.
“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,” he said.
“These
acquisitions represent an exciting new chapter for Bradford Estates.
Each estate presented compelling ‘value add’ 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.”
