MARCHMONT INVESTMENT MANAGEMENT ACQUIRE BELVEDERE UNIT LET TO TUFFNELLS

As Belvedere continues to establish itself as South East Londons premier logistics location, Marchmont IM are pleased to have acquired this 2.08 acres site on Crabtree Manorway North in the heart of Belvedere. Nearby occupiers included Lidl, Amazon, Tesco, Ocado & The Met Police.

The site comprises 13,447 sqft of bespoke distribution hub and offices with extensive yards and parking with a very low site coverage let to Tuffnells on a new 10 year lease with RPI uplifts at a rent of £245,083 pax. The deal was exchanged within a week at a NIY of 4.8%.

Cameron Fraser of Marchmont said ‘“We are pleased to have acquired another industrial asset in one of London’s growth locations. This is our second acquisition in Belvedere this year which has been made possible with the excellent local market knowledge provided by Glennys”.

Richard Seton Clements Divisional Partner of Glennys South East London & Kent Office, who advised Marchmont on the acquisition said ‘we were pleased that our extensive knowledge of the Belvedere industrial area enabled us to provide a quick and detailed assessment supporting our client’s speedy acquisition of the property.’

Knight Frank Acted for Tufnell’s in the sale.