Segro has acquired Electra Park, a 13 acre urban warehouse estate in Canning Town, London from Schroders for £133m.
Electra Park has 21,200 sq m of lettable space across 10 units of which nine are let, with the final unit currently under offer.
The estate is located close to Canary Wharf and London City Airport, as well as being bordered by the A12 and A13 main roads, which connect it directly to central London.
Alan Holland, business unit director for Segro’s London portfolio, said: “This acquisition is an exciting opportunity for Segro to consolidate its leading London footprint and is a strong fit with its well established prime urban warehouse portfolio.
“Situated on the edge of Zone 2, at the gateway between Central London and the rest of our East London assets, it is in an area that is currently undergoing significant redevelopment and modernisation.”
He added: “This should further improve the already attractive supply/ demand dynamics and create the potential for strong rental growth, as we have seen happen in other inner London markets.
“Electra Park helps us to build further scale in an area where we have made great progress through the East Plus partnership in conjunction with the Greater London Authority.”