The two companies have acquired two disused warehouse sites in Ealing and Enfield for a combined €24.6 million, further advancing their joint venture aimed at investing a total of €241 million (£200 million) in last-mile logistics warehouses across Greater London.
The Hanwell Works site in Ealing, a freehold industrial estate spanning 5,177 sqm, was purchased for €13.2 million. Formerly occupied by Access Self Storage, the property will be redeveloped into four high-specification units ranging in size from 418 sqm to 1,672 sqm.
The second site, on Centenary Road in Enfield, comprises 3,106 sqm and was acquired for €11.4 million. It too will be refurbished into four modern units, designed to provide flexible operational space for SMEs.
The joint venture made its first acquisition in September of last year, acquiring the Fairview Business Centre in Hayes for €34.2 million from A2 Dominion Group.
Their strategy focuses on unlocking value in underutilized industrial assets located in supply-constrained, high-demand areas. Both newly acquired properties are considered prime candidates for ESG-led redevelopment, with future projects targeting BREEAM ‘Excellent’ and EPC ‘A+’ certifications.
