Royal London Asset Management Property has completed the acquisition of an 8-acre site from LGC Group to deliver a multi-let industrial development.
Royal London Asset Management Property has partnered with Graftongate to acquire the site and act as development managers.
With a GDV estimate of £90m, the freehold site represents a significant redevelopment opportunity to create a best in class multi-let industrial scheme.
The size of the plot provides flexibility to create a high-quality estate, combined with car parking and loading spaces, offering an ideal location for trade and SMEs.
Teddington has been owned and occupied by LGC Group, a global leader in life science tools, partnering with customers to find solutions that diagnose, treat, feed and protect our growing population.
Teddington provides good connectivity across South West London, with 7.4 million people living within a ten mile radius of the site.
As part of its strategic initiative to invest in, develop, and manage high-quality, sustainable industrial space in markets, the purchase represents another milestone in Royal London Asset Management Property’s expanding logistics portfolio.
The firm manages over 18 million sq ft of industrial and logistics assets across the UK, with the majority of sites located across the South and South East.
Senior industrial asset manager at Royal London Asset Management Property Matthew Barnes said: “Teddington is another important acquisition in our strategy to grow Royal London Asset Management Property’s industrial development pipeline.
“This presents a great opportunity for us to increase our exposure to London, where we are seeing continued occupational demand. We look forward to working alongside Graftongate again, to create a highly sustainable development which we intend to hold as a long-term investment.”
