Grafton Associates has acquired a freehold industrial redevelopment site at 16 Blenheim Road in Epsom for an undisclosed price.
The 16,114 sq ft industrial warehouse and office building, which sits on a one-acre site one mile north of Epsom town centre, is let to Solus (London), an Aviva-owned vehicle repair business, at a passing rent of £240,000 per annum on a short-term lease.
Grafton intends to submit a formal planning application later this year for a modern industrial redevelopment, which will either feature a single unit or multi-let scheme.
Charles Lochrane, director at Grafton Associates, said: “We are excited to have secured this rare redevelopment opportunity in Epsom, an industrial market where the supply of modern, well-specified units remains critically low. This acquisition aligns with our strategy of targeting well-located assets with strong fundamentals and potential for repositioning. We look forward to bringing forward our plans and delivering a high quality scheme that meets the needs of the local occupier market.”
James Clark, partner at Knight Frank, which advised Grafton on the acquisition, added: “Opportunities like 16 Blenheim Road are increasingly difficult to secure across the South East and Greater London. Epsom has a deep occupier base but very few opportunities to create new, well-specified trade counter and industrial space. Grafton’s plans respond directly to that gap, and this acquisition is a strong example of how investors are looking to unlock value through employment land intensification.”
Knight Frank has been retained to advise on the delivery and leasing strategy for the proposed scheme.
