Prologis has acquired 171,500 sq ft of distribution space at Lakeside Industrial Estate , Colnbrook from the SWIP Property Trust and Centurion Properties, paying £25m in an off-market transaction.
The terrace of four refurbished units, is fully let to DX Network Services and Tourvest Duty Free (UK), four miles from Heathrow airport.
Prologis UK managing director Andrew Griffiths said: “The acquisition at Lakeside Industrial Estate is in line with our strategy to invest in prime locations across London and the South East”.
“This is a well-let property on an infill site in a highly supply-constrained market and we are delighted to add it to our portfolio.”
SWIP Property Trust deputy manager Kerri Hunter said: “When we bought Colnbrook, it was part vacant with some short-term income. Since then we’ve refurbished it and secured a strong letting which has attracted a lot of interest from investors.”
DRTE acted for Prologis and SWIP Property Trust was represented by Savills.
chris.berkin@estatesgazette.com
