Park Royal Strategic Site Sale
Matthews & Goodman’s investment team has acted on behalf of a private vendor on the sale of a strategic site at 5-7 Park Royal Road, London W3.
The 14,229 sq ft modern warehouse unit is on a 0.71 acre site and let to Art Logistics, who remain under lease and is unaffected.
It sold to a family office for £5.85m reflecting a sub 3% yield.
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 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.
The purchaser was represented by Lewis Ellis.