TT Group, formerly known as Telereal Trillium, has sold Eldon Way Trading Estate in Biggleswade, Bedfordshire, for £17m.
The industrial estate, spanning 7.35 acres across 24 buildings, has been acquired by Chesham Capital.
The move follows enhancement and refurbishment of the assets, totalling 153,383 sq ft.
The estate was acquired by TT Group in January last year as part of Zeta, a multi-let industrial portfolio measuring 308,939 sq ft across five assets.
Matthew Pearson, associate director for acquisitions at TT Group, said: “We acquired Eldon Way Trading Estate as part of a portfolio of well-located properties, with strong fundamentals, where we identified potential for value-add.
“The sale of this asset crystalises our business plan and provides a successful outcome for our shareholders”.
Paul Munday, head of investment acquisitions at TT Group, said: “We are keen to re-invest the disposal proceeds into new assets, in addition to further planned balance sheet acquisitions. We continue to look for deals of a similar profile, focussing on the multi-let and mid-box industrial sector in particular.”
TT Group was advised by DTRE, with Shoosmiths acting as solicitors; M1 Agency acted for the purchaser.
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Photo © TT Group
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