Legal & General acquires London warehouse facility for €19.3m (GB)

Legal & General acquires London warehouse facility for €19.3m (GB)

Legal & General’s Industrial Property Investment Fund has acquired a 1.4-acre warehouse unit for €19.3m (£16.5m). The property is located in South Bermondsey, SE16, Greater London, and comprises 60,000ft². It was producing €760,714 (£650,000)pax worth of income from long-term tenancies. The vendor is Henshall & Partners. The agents have now amassed nearly €35m (£30m) worth of investment sales in Southwark/ South London in recent weeks.  

 

Chris Henshall, Managing Director of Henshall & Partners commented: “We are happy to announce the successful sale of this industrial estate to Legal & General’s Industrial Property Investment Fund for €19.3m (£16.5m). The property was well let and generating a strong rental income. We were very pleased to act for a local landowner and secure a competitive yield at 3.9% on this disposal. It marked a very active quarter for our team in Southwark in particular."

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