In a strategic expansion, the TT Group has recently acquired industrial assets valued at over £9.5 million. This includes the freehold of an industrial estate in Folkestone, previously held by Workspace Group PLC, part of the FTSE 250 REIT.

Situated on the Three Acre Industrial Estate on Park Farm Road, the Folkestone site is approximately 1.2 miles south of the town centre. This estate, encompassing 44,341 sq ft of industrial space across nine units and leased to eight tenants, generates a yearly rent of £367,708. Tenants such as Howdens, Plumbase, Edmundson Electrical, and Eurocell benefit from the estate’s excellent location, with the M20 and Channel Tunnel freight terminal less than 2 miles away.

For this acquisition, TT Group received guidance from Ereira Mendoza, while CBRE provided consultancy to Workspace Group.

Moreover, TT Group has enhanced its portfolio with the acquisition of a modern, prime single-let industrial unit in Kegworth. Located within a mile of J24 of the M1, this detached unit spans 73,590 sq ft on a 3.61-acre freehold site. It is fully let to Hayward Tyler Fluid Handling Ltd under a 15-year lease.

GV&Co advised TT Group for the Kegworth acquisition, with Sanderson Weatherall advising Interpath.

Paul Munday, Head of Investment Acquisitions at TT Group, commented on the acquisitions, stating, “We’re pleased to have completed these transactions, aligning with our strategy to target well-located multi-let and single-let industrial investments. These additions to our portfolio promise a balanced and diversified income stream and present opportunities for future asset management enhancement. Our team is actively seeking similar assets to continue growing our investment portfolio.”