Capital Industrial, advised by Gerald Eve, has bought a central London industrial unit from Hoxton Investments for £4.75 million. The unit was acquired with a very short-term tenancy agreement in place and offers excellent reversionary potential.
38-40 Verney Road in Bermondsey provides 9,696 sq ft of prime inner London industrial space with a secure yard. The unit adjoins Capital Industrial’s Verney Road ownership.
Situated close to Old Kent Road and South Bermondsey Overground station, the site will attract demand from last-mile logistics and light industrial occupiers following an extensive refurbishment of the unit
Felix Hartley Russell, senior surveyor at Gerald Eve, said: “Urban space such as this remains in huge demand from both occupiers and investors, particularly in Central London where there is exceptional competition. This acquisition fits perfectly into Capital Industrial’s wider portfolio and strategy, offering the potential to increase their ownership along Verney Road whilst improving the specification to meet Grade A occupier demand.”
Gerald Eve advised Capital Industrial, while CBRE represented Hoxton Investments.