CBREi buys east London industrial estate from PRUPIM

24 September 2009

CBRE Investors has bought the prime multi-let industrial estate Waltham Park Way, London, E17, from PRUPIM for £14.925m, a yield of 7.5%. The 139,657 sq ft estate comprises 20 industrial and trade counter units and is fully let to 19 tenants. Strong investor interest helped drive the price for the property, which agents believe offers management opportunities to increase its income from relatively low rental levels. John Adcock, head of UK industrial investment at CB Richard Ellis, which advised CBREi, said: “This property was secured following a competitive bidding situation, which illustrated the quality of the estate and the substantial investor demand currently being witnessed for prime industrial estates located in the South East of England, and more specifically Greater London.” Jones Lang LaSalle advised PRUPIM. EGI - Patrick Clift 23/09/2009 16:18