Clipstone Investment Management Limited, acting on behalf of a segregated account client, has acquired two London industrial properties.
St Margaret’s Business Centre, Twickenham was acquired for £10.85m. The 27,500 square foot property is currently fully let to six tenants, with various asset management opportunities to significantly enhance the rental income.
An open storage site on Challenge Road, Bedfont was also purchased for £13.5m. This site will be let to an occupier for 20 years with 5 yearly rent reviews to the higher of OMV or CPI (2%-5%). This site adjoins an existing estate which helps consolidate the Clipstone ownership in this key West London location.
Toby Dean, Clipstone’s Chief Executive, commented:
“We believe there is an acute shortage of industrial space around Greater London, caused by the reduction in supply as industrial space is converted to higher value uses, a lack of development and an increase in demand caused by London’s high consumer demand for online retailing. Both Twickenham and Bedfont represent excellent opportunities to increase rents through asset management, together with the supply-constrained locations providing the opportunity for accelerated rental growth.”
M1 Agency advised Clipstone on Twickenham and Stonehill Partners on Bedfont.
ENQUIRIES
For further information, please contact:
Clipstone Investment Management Limited Tel: +44 (20) 7043 0270
Toby Dean
21 August 2023
