Landid Property, ICG Longbow and the Sheikh Family Office are buying a high-profile shed redevelopment scheme in Dagenham, east London.
The trio have placed the 487,000 sq ft Goresbrook Park under offer for £20.5m, which is being sold by Aberdeen Asset Management on behalf of the Abu Dhabi Investment Authority.
The estate comprises five warehouses which third party logistics operator Kuehne + Nagel is in the process of vacating.
A source said: “In a market staved of supply, it is a fantastic redevelopment opportunity.”
In October ICG Longbow set up a £50m joint venture with the Sheikh Family Office called Locksbridge Estates.
Savills acted for the purchasers; BNP Paribas Real Estate advised the vendors.
Nick.whitten@estatesgazette.com
