LaSalle Investment Management has acquired a multi-let industrial estate in Higham’s Park Waltham Forest on behalf of a UK pension fund client. The asset is fully income-producing and offers attractive future mixed-use redevelopment potential. The purchase price was not disclosed.
Chris Lewis, Head of Transactions at LaSalle Investment Management, said: “We are very pleased to have secured Higham’s Park as it benefits from an attractive supply-demand dynamic, with total demand for industrial properties in the area currently seven times the levels of supply. The asset is located in an increasingly popular borough of London and thanks to its future commercial and residential potential, and ongoing attractiveness as an industrial property, we expect it to provide long-term risk-adjusted income growth for our client.”
LaSalle’s Development Partner in the project will be Joseph Homes, a multi-award-winning, London-based developer.
Craig Carson, Land and Planning Director at Joseph Homes, commented: “Combining great transport links into Central London with excellent access to green spaces and other amenities, Higham’s Park is an exciting development opportunity for Joseph Homes to be part of. We look forward to working together with LaSalle to realise the potential of the site, using our Live Well principles to ensure that this is done in a way that maximises the benefits to the local community.”