Chancerygate Asset Management has acquired the Provident Industrial Estate, a multi-let industrial estate in Hayes from Co-operative Estates.
The acquisition for £4.067m covers the 47,867 sq ft estate in Pump Lane, which comprises seven units arranged in two terraces along with a stand-alone unit all let to a variety of occupiers. It was part of the Spoke Portfolio being marketed by DTZ at the end of last year.
Chancerygate Managing Director, Eddie Cook, comments: “This is a well-located estate which offers good asset management opportunity through refurbishment and potential to redevelop part of the estate.
“It furthers our acquisition strategy of buying in the Greater London area where Chancerygate has established a specialism as both developer and investor. Rory Finnan who joined Chancerygate in November will be asset managing the estate.”