UK-based pan-European real estate fund manager PineBridge Benson Elliot and JV partner Evo Industrial have acquired two last-mile logistics sites in London for an undisclosed price.
In Woodford, East London, the partners have bought a vacant 4 acre site with existing planning consent for industrial use. New proposals are set to be brought forward to construct six units at the site ranging from 8,220 sq ft to 26,430 sq ft.
In Enfield, North London, the partners have acquired a 2.2 acre site and intend to develop a 72,000 sq ft warehouse unit. Both sites will target BREEAM Excellent and be net zero carbon in operation.
George MacKinnon, managing director at PineBridge Benson Elliot, said: “Robust enquiry levels for well-located, environmentally sustainable and operationally sound logistics assets combined with a dwindling number of sites in Central London continues to underpin the strategy with Evo. We believe both the Woodford and Enfield sites are well placed to deliver best in class buildings which will appeal to a variety of occupiers with modern, well specified space.”
Adam Courtenay, co-founder of Evo Industrial, added: “These new acquisitions demonstrate our ability to identify, analyse and secure opportunities to grow the JV with PineBridge Benson Elliot and, as a team, to transact swiftly and effectively on both on market and off market opportunities. Along with our other schemes at Poyle, Erith, Warrington and Corby, these represent a material and positive addition to the track record of Evo and PineBridge Benson Elliot in this sector.”
