Enfield site acquired by SEGRO
by Marco Cillario Tue 17 November 2015, 5:40 pm
Real Estate Investment Trust SEGRO has acquired a four-hectare site in Enfield with potential for 60,960sq m of development.
The acquisition was announced on 9 November and presented as part of the company's strategy to strengthen its presence in newer locations including north London.
Enfield, located between the North Circular Road (A406) and the M25, is considered a strategic location, offering rapid access to the national motorway network.
SEGRO's first development in this location, View 406, a development of 15 industrial units facing the North Circular Road, completed speculatively in December 2014 and already almost fully let, shows the strength of demand for modern industrial space in the area.
The newly acquired site offers flexibility for the size and number of units that can be built on both a speculative and pre-let basis.
Alan Holland, SEGRO's business unit director for Greater London, said that acquiring the area was an excellent addition to the company’s portfolio and would further strengthen its presence in key markets. He added: “We have razor sharp focus on new opportunities in areas that offer easy access to the heart of the city that will ultimately benefit our customers."
SEGRO plc owns or manages 5.7 million square metres of space in £6.4 billion of assets. Its properties are located around major conurbations and at key transportation hubs across several European countries.