Royal London Asset Management Property has completed the acquisition of a 3.2ha site from LGC Group to deliver a multi-let industrial development.
Royal London Asset Management Property has partnered with Graftongate to acquire the site and act as development managers. With a GDV estimate of c. €107.1m, the freehold site represents a significant redevelopment opportunity to create a best-in-class multi-let industrial scheme. The size of the plot provides flexibility to create a high-quality estate, combined with car parking and loading spaces, offering an ideal location for trade and SMEs.
Teddington has been owned and occupied by LGC Group, a global leader in life science tools, partnering with customers to find solutions that diagnose, treat, feed and protect our growing population.
Located in South West London, the site is well positioned to capitalise on the lack of modern supply in the locale. Recognising the potential of the site for continued growth in the sector, this acquisition demonstrates a strategic move for Royal London Asset Management Property to create better links across Greater London between the most densely populated urban areas and existing industrial/commercial locations. Teddington provides good connectivity across South West London, with 7.4 million people living within a ten-mile radius of the site.
Matthew Barnes, Senior Industrial Asset Manager at Royal London Asset Management Property said: “Teddington is another important acquisition in our strategy to grow Royal London Asset Management Property’s industrial development pipeline. This presents a great opportunity for us to increase our exposure to London, where we are seeing continued occupational demand. We look forward to working alongside Graftongate again, to create a highly sustainable development which we intend to hold as a long-term investment.”
Paul Hanley, Development Director at Graftongate, said: “This acquisition provides an exciting opportunity to deliver a multi-let scheme in a prime South West London location. Graftongate has considerable experience across the Greater London market, where we have gained a track record for developing high-quality, sustainable industrial and logistics accommodation. We look forward to furthering our partnership with Royal London Asset Management in bringing forward plans for the site’s redevelopment.”
Image source - Royal London Asset Management Property.
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