February 5, 2021
A prominently located modern warehouse at 5-7 Park Royal Road, London W3 6XA has sold to a family office for £5.85m reflecting a sub 3% yield.
The 14,229 sq ft unit is on a 0.71-acre site and let to Art Logistics, who remain under lease and is unaffected.
The property is strategically located less than 400m from North Acton station on the southern border of Park Royal, London’s premier manufacturing, warehouse and urban logistics location.
The site is fully underpinned and earmarked for residential development in the local plan.
Connectivity across west London is set to substantially improve with the introduction of the Elizabeth Line (opening 2022) at Acton Mainline and HS2 at Old Oak Common in 2030. As one of the largest railway interchanges it will provide a catalyst for growth delivering 25,000 new homes and 65,000 new jobs locally.
The property attracted very strong interest and bidding was fiercely competitive. Investor demand for industrial assets in Park Royal and the surrounding area remains at an all-time high putting further downward pressure on prime yields.
Matthews & Goodman acted on behalf of the private vendor while the purchaser was represented by Lewis Ellis.
This acquisition marks the third key industrial investment transaction over the last six months in Park Royal advised by Lewis Ellis. Other deals include the sale of HR Owen at School Road for Eskmuir and the acquisition of Brent Crescent/Brentside Works on the north circular for Aberdeen Standard Investments.
