An historic Thames-side wharf in East London has been acquired by a private investor for an undisclosed price.
The 6.6-acre De Pass Wharf at River Road, Barking, which provides open storage and redevelopment opportunities, was marketed for £19m.
Occupying a prominent position on the north bank of the River Thames at Creekmouth, the site currently operates as an industrial storage yard and benefits from protected wharf status.
The wharf’s origins date back to 1878 when it formed part of a Victorian fertiliser and chemical works established by the De Pass family.
Henry Pauncefort-Duncombe, head of strategic land at BTG Eddisons, which advised on the sale of the site, said: “Opportunities to acquire industrial land of this scale within Greater London are becoming increasingly rare. Demand remains strong from a broad spectrum of investors, developers and occupiers who recognise the long-term strategic importance of sites capable of supporting industrial and logistics uses.
“De Pass Wharf attracted considerable interest because it combines scale, a Thames-side location and significant future potential. As industrial land supply continues to tighten across London, we expect competition for similar opportunities to remain intense.”
Paul Quy, head of industrial and logistics at BTG Eddisons, added: “This transaction underlines the continued strength of the market for industrial and logistics land in key London locations. The purchaser has secured a substantial site in an established industrial area with excellent road connectivity and a unique position on the River Thames. Sites offering this combination rarely come to market, and the level of interest generated during the marketing process reflects the confidence investors continue to have in London’s industrial sector.”
Kemsley Property Consultants acted on behalf of the purchaser.
