SEGRO has spent £100m on new deals that have added more than 450,000 sq ft to its portfolio across Greater London.
The real estate investment trust said it has struck two off-market acquisitions, in Dagenham and Croydon, following its acquisition earlier in the summer of eight acres of land in Tottenham.
In Dagenham, SEGRO has bought a 64,000 sq ft warehouse at Orion Park through a sale-and-leaseback with logistics company Kuehne + Nagel. In Croydon, where the firm is making its first purchase, it picked up a data centre and last-mile parcel delivery warehouse, spanning a combined 176,556 sq ft.
The deals come after SEGRO’s announcement that it will develop a 185,000 sq ft urban logistics hub in Tottenham on land it bought at White Hart Lane.
“Population growth, land scarcity and the digitalisation of our society present major challenges for London,” said Alan Holland, SEGRO’s business unit director for Greater London. “But with challenges come opportunities and industrial and warehousing space is an important part of the solution. High quality, well-connected acquisitions such as these therefore represent valuable additions to our Greater London portfolio for us and our customers.”
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