Enfield Council has acquired a 32-acre development site in north London, with a long leasehold industrial estate and a further four acres of greenbelt land, from a client of LaSalle Investment Management for in excess of €79.5m (£70m).
The development site, known as Urban Logistics.London, comprises a prominent 32 acre site adjacent to the North Circular Road in Edmonton, North London. The sale places restrictions on the title that will prohibit the future development of large format logistics units and limit the number of residential dwellings.
Enfield Council has acquired the site for its Meridian Water master plan, which will be delivered over the course of the next 20 years.
LaSalle was advised by specialist development and asset managers Fairacre Property, which along with the agents Cushman & Wakefield and Glenny, has a long-standing involvement with the site.
