European logistics specialist Compagnie du Parc (CdP) has acquired three industrial sites as part of its plans to build up an £80 mln (€90 mln) logistics portfolio in Greater London.
The investments add sites in Croydon, Leatherhead and Erith, within London's M25 road ring, to CdP's existing UK portfolio which comprises of four sites in Bexley and Romford.
The new assets are Units 1, 2, 3, 6 & 7 Endeavour Way, a multi-let, 1,990 m2 industrial estate in Croydon; 128 Kingston Road, a multi let,1,600 m2 warehouse in Leatherhead, and units 6, 8 Veridion Way, a multi-let, 1,540 m2 industrial estate in Erith. Financial details of the deals were not disclosed.
CdP said it is targeting a further £50 mln of investment, with lot sizes of £1 mln upwards, in light industrial and logistics units within the M25 motorway.
'Industrial land is being absorbed by residential use at an unprecedented rate,' commented Jonathan Coenca, managing director of CdP. 'As internet shopping booms, there is a surge in occupier demand for light industrial and logistics warehouse space. Our focus on warehouse assets in close proximity to urban areas within greater London provides an attractive proposition for companies looking to get their products or services quicker to customers. The ‘last mile’ delivery sector is a key driver and is set to continue supporting occupier demand in the coming years.'
CdP is a Luxembourg-based private real estate investment firm owned by its founding partners. The company has been active in Europe for over 30 years, investing and developing industrial assets largely in France and Switzerland.
