Schroder U.K. Real Estate Fund sells east London urban logistics park for €147m
Schroder U.K. Real Estate Fund (SREF) has completed the sale of Electra Business Park in Canning Town, East London, to Segro for £133 million (€147 million/$194 million).
Developed in 2002 on the site of the former West Ham power station, Electra is one of the United Kingdom’s premier urban logistics parks, providing 228,137 square feet of accommodation across 10 highly specified warehouse units within an independent and well-maintained business park environment.
Located 4.5 miles east of the City of London, the property is in a key location for London centric occupiers owing to its proximity to Central London, the City and Canary Wharf (London’s largest financial hub outside of the City of London).
SREF will now focus on crystallizing the strong performance from Electra by reinvesting the capital into the fund’s development pipeline and higher yielding investment opportunities, such as the recently announced acquisition of One Cambridge Square, Cambrid