UK real estate investment trust Segro has acquired £195m worth of assets in London.
The London listed company said it has bought the Grand Union Trade Park in Park Royal from abrdn and has acquired two assets in Wapping and Clapham to re-developing into industrial estates.
The fully-let Grand Union Trade Park comprises 100,000sqft of industrial space across more than four acres.
The Wapping and Clapham assets, each measuring 2.6 acres in size will be known as Segro Park Wapping and Segro Park Clapham respectively. Both assets will be re-developed to provide a combined 150,000sqft of warehouse space.
Alan Holland, managing director, Greater London at Segro, said: “These deals represent further positive momentum in the expansion of our urban logistics portfolio in London and are in line with our strategy to build scale and a customer offering in high-density business and residential clusters.
“The purchase at Park Royal complements our existing ownership in the area and unlocks large scale development opportunities for the future, whereas the acquisitions at Wapping and Clapham underline our ability to identify and secure industrial assets in Inner London locations, enabling occupiers to meet the ever-changing demands of their own customers.”
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