Aviva Investors has acquired Phase 300, a more-than 10,312m2 multi-unit industrial asset located at Centennial Park in Elstree, Hertfordshire.
It is the third investment Aviva Investors has made at the Park, building on its previous acquisitions of the adjacent Phase 100 and Phase 200, which together account for approximately c. 21,368m2 of industrial warehouse and distribution space.
Phase 300 comprises a total of 12 units ranging from 466m2 to 1,557m2, which together provide more than 10,684m2 of gross external area, alongside separate loading areas and 279 parking spaces.
Home to more than 50 businesses and including hotel, gym and cafe facilities, Centennial Park borders the main conurbations of Watford and Borehamwood, and is one of the premier satellite logistics hubs in the South East. It is situated on junction four of the M1 motorway, lies adjacent to the A41, and is just six miles from the M25, offering excellent access to national transport networks, whilst also being just 20.8km from Central London.
James Stevens, Head of Real Estate Investments at Aviva Investors, said: “We have remained a strategic buyer throughout 2023, enabling us to make opportunistic purchases such as this off-market deal, and grow our presence in core locations across the UK. This is our third asset at Centennial Park, which has high occupancy rates, an HQ-style layout, and first-class transport link into London and nationally. With plans for significant residential development in the local area, we regard its future prospects highly and believe we now have a compelling portfolio of assets at the Park which can deliver excellent long-term value for our investor clients.”
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