Freehold interest aquired in Zennor Trade Park, Balham
DTZ Investors has completed on the acquisition of the freehold interest in Zennor Trade Park in Balham, South London, for £30.10m, reflecting a net initial yield of 3.21%. The property comprises 28 light industrial units and is fully let.
Tony Brothwell, the Fund Manager, commented “this acquisition for SPF continues our strategy of investing in core locations with strong rental growth and asset management prospects. In the case of Zennor Road, this is underpinned by intense pressure on industrial land supply and the sustained expansion of e-commerce requiring industrial space in close proximity to large population centres.”
Michael Elliott acted on behalf of DTZ Investors and Allsop represented the vendor.