Montagu Evans advised SEGRO on the acquisition of Matrix Park, Park Royal, for £140m. It compromises 256,000 sq ft of multi-let industrial accommodation and a 1.4 acre development site. The estate is fully let to seven tenants across 11 units.
In a property swap transaction, SREF acquired three multi-let industrial estates and one urban lositics unit in Greater London and two national logistics units in the West Midlands. The portfolio totals 880,000 sq ft and the assets totalled £205m. The balance of £65m has been paid by Schroders to Segro in addition.
The £140m acquisition of Matrix Park by Segro was completed in October 2021 and reflects a net initial yield of 2.91% and a capital value of £546 psf.