Following its announcement early this year announcing €90.49m (£80m) of capital for investment in the UK’s warehouses, The Last Mile SA, advised by Compagnie du Parc ("CdP”), a specialist real estate investor involved in €2bn worth of industrial and logistics transactions across Europe, has continued its spending spree with the acquisition of three industrial sites within the M25.
Active in the European real estate market for over 30 years and renowned for its work in developing multi-storey warehouses in Switzerland, CdP has acquired sites in Croydon, Leatherhead and Erith building on its existing portfolio of four sites in Bexley and Romford. The industrial units are multi-let and bring the total aggregate portfolio value to circa €33.9m (£30m) spanning over 245,000 ft².
Jonathan Coenca, Managing Director of Compagnie du Parc Limited, commented: “Industrial land is being absorbed by residential use at an unprecedented rate. 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’s new sites include:
- Units 1, 2, 3, 6 & 7 Endeavour Way, Croydon: a multi-let, 21,383 ft² industrial estate
- 128 Kingston Road, Leatherhead: a multi-let, 17,405 ft² warehouse
- Units 6, 8 Veridion Way, Erith: a multi-let, 16,553 ft² industrial estate
The existing four sites total over 190,000 ft². Three of these assets are in Bexley and the other one is situated in Romford:
- Allen Ford: a 56,678 ft² industrial property in Romford, comprising two warehouses and mezzanine space
- Kencot Close Business Park: a multi-let, 36,197 ft² industrial estate
- Fordgate Business Park: a multi-let, 49.623 ft² business park
- Trim House: a self-contained 47,559 ft² warehouse
CdP is also currently developing CP Kammacher II in Meyrin, Switzerland which is over 20 metres in height and consists of five floors and a 2,000 ft² indoor car park.
