Savills IM parts with Mowlem Trading Estate after seven-year redevelopment

Savills Investment Management has sold the multi-let Mowlem Trading Estate in North London, to Goodman for an unknown amount.

Mowlem Trading Estate had been owned by an FTSE 100 Corporate Pension Fund client of Savills IM for more than 20 years. It was redeveloped in three phases from 2013 to 2020 by Savills IM and development manager Aitchison Developments.

Consisting of 17 high-specification trade counter and logistics units, the property spans 212,000 square feet of gross internal area. More than 90 percent of the estate is let by floor area to 15 tenants, such as Travis Perkins, U.K. Capacity Reserve, Tortilla, Pendragon and Bunzl.

“Mowlem Trading Estate has always enjoyed strong tenant interest throughout our client’s long period of ownership,” said Lucy Winterburn, director of Savills IM. “The decision to invest in the Estate to redevelop and improve the look and feel of it over the past 10 years has paid dividends both in terms of rental growth an