SEGRO has acquired Perivale Park, a 34 acre urban warehouse estate in Perivale, 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. It is also next to Perivale Underground Station.
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 which SEGRO thinks has medium term development potential. Perivale Park is fully let, and had been on the market, with SEGRO tipped as likely buyers.
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.”
