B8RE Advise on Tokenspire Business Park Acquisition

B8RE, acting on behalf of a London based value-add investment manager, have advised on the acquisition of Tokenspire Business Park, Beverely in an £11.1m deal.

The well-established industrial estate extends to more than 24 acres and comprises circa 309,000 sq ft of commercial space across 49 industrial units. The property also includes over 2 acres of land suitable for future development.

John Burrows of B8RE commented, ‘the estate represented an excellent opportunity to acquire a prominent multi-let asset, which has enjoyed consistently high occupancy levels and many long-standing tenants.’

‘Our client is now looking to begin a proactive asset management strategy to modernise and enhance the existing units on the estate as well as implement a significant capital expenditure programme throughout the common parts. In addition plans are being progressed to develop further industrial accommodation on the estate’.

The vendor was advised by the Avison Young’s Manchester office.