TT Group completes £17m of UK acquisitions and disposals
TT Group’s investment team continues an active start to 2022 with the completion of transactions totalling c£17m.
In line with its strategy to seek out both individual properties and portfolios with potential opportunity to add value through active asset management, the company has made a number of acquisitions across the UK.
In Cardiff, TT Group has acquired The Trade Collective estate in the city centre for £7.5m. Located close to Cardiff Castle and the Principality Stadium, the estate comprises four period buildings providing 43,850 sq ft of recently refurbished, high quality office accommodation. The Trade Collective is almost fully let to a range of national and local TMT tenants. CBRE acted for TT Group on the acquisition.
In Hull, TT Group has purchased a multi-let retail warehouse estate on Anlaby Road, the primary thoroughfare to the city centre from the west. The property benefits from a strong tenant mix including Iceland, Greggs and Wilson Carpets. ADS Real Estate Advisors acted for TT Group on the acquisition.
TT Group has further completed on the purchase of a trade park investment on Currock Road, Carlisle. The investment involves two single-let trade counter units let to Wolseley and Howdens. Colliers acted for TT Group on the acquisition.
On disposals, the company has sold a couple of non-core assets following completion of its business plan.
A single let industrial unit in Tunbridge Wells has been sold to Clearbell UK Strategic Trust for £4.1m in an off-market deal. Located on North Farm Road, the 34,169 sq ft warehouse is let to the print marketing solutions company Brown Knight & Truscott.
TT Group has also sold a four-storey property in Derby city centre let to restaurant chain Turtle Bay. The property was formerly occupied by the Department for Work and Pensions and converted to its current use by TT Group in 2014.
Paul Munday, Head of Investment Acquisitions at TT Group, said: “Our team continues to seek out opportunities across all sectors throughout the UK. We have the necessary expertise and financial backing to move quickly, and we are keen to accelerate our level of activity in the months ahead.”