Legal & General Industrial Fund acquires GBP16m industrial site in Bermondsey
Southwark based property agent Henshall & Partners has sold a 1.4-acre warehouse unit for GBP16.5 million to Legal & General’s Industrial Property Investment Fund.
The subject property extended c60,000 sq ft and is located in South Bermondsey, SE16. It was producing GBP650,000 pax worth of income from longterm tenancies.
This recorded another industrial sale for Henshall & Partners. The agents have now amassed nearly GBP30 million worth of investment sales in Southwark/ South London in recent weeks. Alongside this SE16 disposal, Henshall & Partners have recently sold sites on Walworth Road SE17 for GBP6.5 million, Risborough Street SE1 for GBP4.35 million and Lynton Road SE1 for GBP2.5 million.
Chris Henshall, Managing Director of Henshall & Partners says: “We are happy to announce the successful sale of this industrial estate to Legal & General’s Industrial Property Investment Fund for GBP16.5 million. The property was well let and generating a strong rental income. We were very pleased to act for a local landowner and secure a competitive yield at 3.9 per cent on this disposal. It marked a very active quarter for our team in Southwark in particular.”