Royal London Asset Management Property has completed more than £350m of transactions in the industrial and logistics sector.
The company has sold a 33.6-acre industrial and logistics portfolio in Southall, West London, which Royal London says offers excellent fibre connections and would be suitable for a data centre redevelopment. Details of the sale price and buyer were not disclosed.
In Havant, the company has partnered with Canmoor Developments to acquire a 4.16-acre brownfield site from the administrators of Dunham-Bush Limited for £5.13m. The acquisition paves the way for the development of three Grade A industrial units, providing 104,320 sq ft of lettable floor area.
Royal London Asset Management Property has also completed the letting of newly developed units at Springfield Business Park in Chelmsford (pictured), with a supplier to the education sector taking a 36,000 sq ft unit on a 10-year lease for its new head office. The company said the rent paid for the unit is the highest achieved in Chelmsford for a mid-box unit.
James Orr, head of industrial and logistics at Royal London Asset Management Property, said: “We are extremely proud of the latest sector transactions as this pivot into development stock is a key component of our strategy. By rotating out dry investments through sales and recapitalisation, we aim to generate higher returns.
“The acquisition in Havant will enable us to construct a best-in-class three-unit terrace of warehouses in an undersupplied area, positioning us to achieve enhanced returns similar to those we realised in Chelmsford.”
