Aviva Investors has acquired the 110,000 sq ft Phase 300 multi-unit industrial asset located at Centennial Park in Elstree, Hertfordshire.
It is the third investment Aviva Investors has made at the park, having previously acquired the adjacent Phase 100 and Phase 200, which together account for approximately 230,000 sq ft.
Phase 300 comprises 12 units ranging from 5,017 sq ft to 16,758 sq ft. The park is situated at junction four of the M1 motorway, adjacent to the A41.
James Stevens, head of real estate investments at Aviva Investors, said: “We have remained a strategic buyer throughout 2023, enabling us to make opportunistic purchases such as this off-market deal, and grow our presence in core locations across the UK. This is our third asset at Centennial Park, which has high occupancy rates, an HQ-style layout, and first-class transport link into London and nationally.
“With plans for significant residential development in the local area, we regard its future prospects highly and believe we now have a compelling portfolio of assets at the park which can deliver excellent long-term value for our investor clients.”
