SEGRO plc has acquired Perivale Park, a 34 acre urban warehouse estate in Perivale, West London, from Federated Hermes for £202.5 million.
The estate is located in SEGRO’s core west London cluster alongside the A40 main road into Central London and within 2 miles of London’s inner arterial road, the North Circular Road, making it perfectly located for distribution into London. It is also immediately adjacent to Perivale Underground Station allowing easy access for workers on the estate and excellent connectivity for local residents.
The estate provides 55,100 sq m of lettable space across 23 units and 8 acres of land which is currently leased as a vehicle compound but has medium term development potential.
Alan Holland, Business Unit Director for SEGRO’s Greater London portfolio, said:
“Perivale Park is a perfect fit for SEGRO, sitting adjacent to the A40 and nestled between our core holdings in Greenford and Park Royal. It offers a rare opportunity to build further scale and drive value in an area where we already have considerable expertise and knowledge of the local market and customer base. It also offers medium-term development and redevelopment potential in one of London’s prime, and most supply-constrained, industrial clusters.”
SEGRO was advised by Altus Property Services. ACRE Capital Real Estate acted on behalf of Federated Hermes.
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