SEGRO has expanded its Greater London portfolio with three more sites.
The logistics REIT paid LaSalle Investment Management £120m for the 180,000 sq ft Access 23, a multi-let industrial estate in Croydon.
And a 185,000 sq ft warehouse in Waltham Cross and a 4.5-acre development site in Walthamstow were bought from a private seller for an undisclosed price.
The deals follow SEGRO’s strategic plan to buy London properties with near and medium-term asset management and development opportunities, particularly in the north London corridor.
Alan Holland, managing director for Greater London at SEGRO, said: “Demand for high-quality, well-located industrial and logistics space across the London market remains strong, but there is a lack of supply to meet it. These acquisitions are another positive step forward in the delivery of our plan to strengthen our offering in key strategic London sub-markets where we already have a more established presence and build scale in those where we don’t, including south London.”
The Walthamstow purchase adds to SEGRO’s future pipeline of development opportunities in Greater London, following the acquisitions of a 1.7-acre site in Stratford, E20, and a 20-acre plot in Belvedere, south-east London, in October 2021.
Access 23 will join other recent SEGRO investments in Croydon, including SEGRO Park Beddington Lane and the speculative development at SEGRO Park Croydon, which is due for completion in 2023.
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