Specialist real estate investor Compagnie du Parc has bought a BMW/Mini car dealership from Aberdeen Standard Investments for £17.2m.
The asset, in Romford, comprises two properties on a site totalling 4.1 acres let to vehicle franchiser Sytner Properties on 35-year leases expiring at the end of 2039.
CdP said the acquisition was in line with its strategy to focus on light industrial and logistics assets in urban locations within Greater London and that it was on the hunt for further industrial assets with a value-add proposition. It said it would consider portfolio, distressed and vacant opportunities, with a focus on assets requiring refurbishment or capital upgrades.
Managing director Jonathan Coenca said: “This is a rare opportunity to acquire a major branded dealership facility located inside the M25 motorway – an excellent location with an attractive income profile. There is exceptional demand for industrial assets in this region, and we are confident in the long-term appeal of this site.
“In line with our strategy, we are well positioned to identify further opportunities and continue investing in London’s robust industrial and logistics sector.”
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