ACRE Capital have advised Royal London Asset Management on the acquisition of a prime Greater London urban logistics and light industrial park in Borehamwood. The property is a well specified 1990’s distribution park comprised of a 73,000 sq ft urban logistics warehouse let to Yodel and two smaller light industrial units (21,000 and 30,000 sq ft) let to Gailarde and CCF. The average passing rent of £8.92 per sq ft is set against a prime rental tone within the immediate market that is reaching in excess of £15.00 per sq ft and the property therefore presents excellent reversionary and growth potential. The property was acquired for £29,900,000.
Property Type: Urban Logistics and Light Industrial
Transaction Type: Acquisition
Client: Royal London