SEGRO and Legal & General Property (‘LGP’), on behalf of its Linked Pensions Fund, have completed a London industrial property swap. SEGRO has acquired a distribution warehouse at One Abbey Road in Park Royal for £15.3 million (approx. €18 million).
LGP has purchased a portfolio of three multi-let industrial estates in Barking, Park Royal and Tottenham, for £30.3 million(approx. €36 million). As part of the property swap, LGP agreed to pay SEGRO £15.0 million.
CBRE advised LGP on the transaction and DTRE represented SEGRO.
Source: FTI Consulting
