SEGRO plc (‘SEGRO’), Europe’s largest listed owner, asset manager and developer of industrial property, has acquired a 10-acre prime development site in Enfield, north London.
This latest acquisition is part of the company’s strategy to strengthen its presence in newer locations and to continue its growth through the development pipeline.
SEGRO’s presence in London has historically focussed on Park Royal in West London and Heathrow, currently totalling 1.3million sq.ft. Over recent months, SEGRO has successfully sought out strategically located land and standing assets in the north and east of the city from where it will be able to offer the light industrial and urban logistic space so crucial to the needs of occupiers such as parcel delivery companies, third party logistics operators and online retailers.
SEGRO’s first development in this location, View 406, was completed speculatively in December 2014 and is almost fully let, demonstrating the strength of demand for modern industrial space in this area.
The newly acquired land in Enfield is located mid-way between the North Circular Road and the M25 motorway, London’s inner and outer ring-roads, offering rapid access to the UK’s national motorway network.
The site has the potential for 200,000 sq. ft. of development and offers flexibility for the size and number of units that can be built on both a speculative and pre-let basis.
Alan Holland, SEGRO’s Business Unit Director for Greater London, said:
“Acquiring the 10 acres in Enfield is an excellent addition to our Greater London portfolio and further strengths our presence in key markets. We have razor sharp focus on new opportunities in areas that offer easy access to the heart of the city that will ultimately benefit our customers.”
The price is confidential and Waddams Ltd acted for SEGRO.
