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Beaufort Capital and Marchdown Holdings have acquired a nine-acre industrial site in Wellingborough, North Northamptonshire for an undisclosed sum, in the third deal for their joint venture.
The site is located between Northampton, Bedford, Kettering and Peterborough and is 52 minutes from London by train. It includes two buildings totalling over 100,000 sq ft, plus yard space and around 2.5 acres of dedicated industrial open storage (IOS) land.
Beaufort Capital said Wellingborough has a robust and diversified industrial market and growing commuter presence, while the site increases the JV’s prime Midlands focus.
The JV plans to refurbish the site to provide high-quality industrial units and secure yard space, including sustainability features such as an improved building envelope, solar panels and enhanced landscaping.
As with its previous deals, Beaufort Capital is providing both debt and equity for the JV, which was set up to acquire well-located, multi-let industrial estates requiring active management, repositioning and refurbishment.
Peter French, associate director at Beaufort Capital Management UK, the firm’s investment adviser, said: “The development will provide much-needed high-quality and sustainable industrial space for local and regional SMEs, with a number of such businesses already making enquiries.”
Marchdown chief executive Ed Jones added: “I’m delighted to be both continuing my successful relationship with Beaufort Capital and to have secured this estate and IOS land in an excellent location, with refurbishment and repositioning potential in this tight market.”
The JV partners are seeking two to three additional Midland’s acquisitions.
Last month, they purchased an eight-acre, 140,000 sq ft industrial and warehouse complex on Saville Road Industrial Estate in Peterborough.
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