DTZ Investors has completed the off-market acquisition of Units 8 and 10–12 Weir Road, Balham, for £15,171,000, in a deal reflecting a net initial yield of 4.32%.
The South London multi-let industrial estate comprises approximately 27,723 sq ft of industrial accommodation across three units ranging from circa 6,500 sq ft to circa 11,500 sq ft. The estate is fully let to Travis Perkins, Howdens and Haymans Gin and has a WAULT of 10.8 years.
The acquisition aligns with DTZ Investors’ strategy to target urban logistics assets with strong rental growth prospects and long-term redevelopment upside.
Jo Jackson, associate director at DTZ Investors, said: “Weir Road is a prime inner London industrial location, adjacent to the fund’s existing ownership at Zennor Trade Park. The property benefits from reversionary potential and is let to three tenants with strong covenants”
M1 Agency represented DTZ Investors.
