In a strategic move that underscores the fierce competition for prime urban logistics assets, Argo Real Estate has secured the Harp Trading Estate in Manchester's coveted Trafford Park, marking the second major acquisition in its ambitious €595m brown-to-green transformation strategy alongside Blue Coast Capital.
The fully-let multi-tenant industrial complex spans 7,257 sq m across 20 units, with individual spaces ranging from 263 sq m to 764 sq m, housing 15 tenants and offering what industry insiders describe as "significant reversionary potential" in one of the UK's most supply-constrained logistics markets. What makes this acquisition particularly compelling for investors is the estate's strategic positioning within Manchester's golden triangle of connectivity, sitting less than four miles from the city centre with direct access to three major motorway junctions (M60 J9, M61 J2, and M62 J18).
The acquisition represents more than just portfolio expansion; it's a calculated bet on the future of sustainable logistics infrastructure. Since launching their joint venture in March 2025 with the €47.6m purchase of Tuscam Trading Estate in Camberley, Surrey, the partnership has demonstrated an aggressive appetite for undervalued assets in economically robust, densely populated areas where last-mile delivery demands continue to surge.
"Located in one of the UK's most important urban logistics hubs, Harp Trading Estate presents a strong opportunity to unlock value through active asset management and capture rental growth in a supply-constrained market," said Mark Kelly, Head of Asset Management at Argo Real Estate. "Through enhancing its sustainability credentials, working with occupiers to improve their units and lower their operating costs, we expect to capture significant reversion."
The transaction, brokered by Newmark for Argo Real Estate, with CBRE and Knight Frank advising the vendor, highlights a critical market dynamic that developers should note: the growing premium placed on assets that can demonstrate both immediate income stability and long-term sustainability credentials. This dual appeal is becoming increasingly essential as occupiers face mounting pressure to reduce their carbon footprint whilst maintaining operational efficiency.
"As a co-investor in every one of our deals, our conviction in this brown-to-green strategy is further demonstrated through this transaction," declared Crispin Gandy, CEO of Argo Real Estate. "The acquisition of Harp Trading Estate is exactly the kind of opportunity we and Blue Coast Capital are seeking as we build our €595m multi-let urban logistics platform."
People mentioned:
- Mark Kelly, Head of Asset Management, Argo Real Estate
- Crispin Gandy, CEO, Argo Real Estate
Companies mentioned:
- Argo Real Estate - UK-based real estate operating partner and investment manager
- Blue Coast Capital - Investment partner
- Newmark - Property advisory (acted for Argo Real Estate)
- CBRE - Property advisory (advised vendor)
- Knight Frank - Property advisory (advised vendor)
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