Battersea logistics development opportunity changes hands

Following a highly competitive bidding process, a private client of Montagu Evans has sold a prime industrial/logistics development opportunity in Battersea to Capital Industrial for £9.25 million.

24-34 Ingate Place is located within the Vauxhall-Nine Elms-Battersea Opportunity Area between Queenstown Road station and the Battersea Bus Garage. It currently comprises 20,933 sq ft of high quality industrial and office accommodation, with ground floor industrial space and two storeys of offices above.

Originally built to a bespoke configuration for fine wine and spirits merchant Berry Bros & Rudd, it has now been vacated with one year remaining on the lease.

Tom Paton-Smith, Partner at Montagu Evans, said: “This was a highly-sought after development/refurbishment opportunity within the Vauxhall-Nine Elms-Battersea Opportunity Area. With the previous tenant’s departure imminent and having determined that the property no longer fitted our client’s portfolio, we brought together teams from across the business to prepare the asset for sale and maximise value given its very attractive location and suitability for a wide range of future occupiers.”

Montagu Evans provided industrial and office leasing advice alongside its lease advisory investment services. Knight Frank advised Capital Industrial.