ACRE Capital have advised Legal & General Investment Management on the sale of New England Industrial Estate in Barking.
The property comprises a six-unit light industrial estate positioned in close proximity to the A13/A406 intersection and extending to approximately 144,000 sq ft. In its current configuration, the property requires significant investment to refurbish and/or reposition the existing units.
After significant bidding competition, the property was sold to Valor Real Estate Partners for approximately £42,000,000, reflecting a Net Initial Yield in the region of 2.00%.
Property Type: Light Industrial Estate
Transaction Type: Sale