Sunrise Real Estate has acquired the freehold of a self-contained industrial site at 12 Waxlow Road, Park Royal, for an undisclosed price.
The 2.9-acre site houses a 42,079 sq ft warehouse, which was constructed in 1998. The asset benefits from short-term income, while also offering significant future upside, with detailed planning consent in place for the development of a new 111,492 sq ft prime logistics warehouse.
Kyle Streitburger, head of investment at Sunrise Real Estate, said: “This acquisition aligns strongly with our strategy of targeting high quality industrial assets in supply constrained urban locations. Park Royal continues to demonstrate robust occupational demand and the combination of short-term income with a clear development pathway presents a compelling opportunity for Sunrise as we look to deliver best-in-class logistics space in London.”
Alex Carr, executive director at Lambert Smith Hampton (LSH), which advised Sunrise Real Estate on the deal, added: “We are delighted to acquire another asset for Sunrise Real Estate following on from our acquisition of Tesco DIRFT in 2024, in what remains a core West London industrial stronghold. Opportunities of this scale and quality in Park Royal are increasingly rare and we look forward to working closely with Sunrise as we execute the proposed business plan for the site.”
LSH and SBY Real Estate acted on behalf of Sunrise Real Estate and the vendor was advised by Levy Real Estate and Savills.
