DTZ Investors has acquired Admiral Hyson Industrial Estate in Bermondsey, London, for £19.6m.
The 1980s-built freehold vacant estate is set on a 1.73-acre site and comprises eight units totalling 41,684 sq ft.
The units have been stripped back to shell and core and will undergo extensive refurbishment and modernisation to provide Grade A accommodation.
The modernisation programme, which includes the installation of PV roof panels and EV charging points, will improve the EPC ratings of the units to an A.
Tom Royston, director at DTZ Investors, said: “We are delighted to have acquired Admiral Hyson Industrial Estate in Bermondsey, an exceptional strategic investment in a prime inner London location with significant value enhancement potential. This investment reinforces our continued confidence in the London industrial market, where our expertise enables us to deliver a high quality sustainable asset that generates long term value for our client. We look forward to working closely with the project team to transform the asset into a best in class multi-let estate, unlocking its full potential.”
Dominic Whitfield, director in Savills’ industrial and logistics team, which advised DTZ, added: “Situated in a prime zone two London location, the purchase provided DTZ Investors with the opportunity to acquire an estate with considerable asset management potential and significant rental growth prospects.”
Levy Real Estate acted for the vendor.
