TT Group sells Biggleswade industrial estate

TT Group has sold Eldon Way Trading Estate, Biggleswade in Bedfordshire for around £17m to Chesham Capital.

Spanning 7.35 acres, the estate comprises 24 units totalling 153,383 sq ft. We enhanced the asset with the refurbishment of several units as part of our strategic asset management plan for the estate, facilitating a new rental tone.

The property was originally acquired in January 2023 as part of the Zeta Portfolio, a MLI portfolio totalling 308,939 sq ft. This disposal follows the sale of Apex Point Industrial Estate in Welham Green, Hatfield from the same portfolio in November 2023 to a US private equity real estate investment firm. 

Matthew Pearson, Associate Director, Acquisitions at TT Group, said: “We are delighted to complete this sale following the successful implementation of our asset strategy. 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, commented: ‘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 Chesham Capital.