Back to news | 16th August 2022
BlackRock acquires off market Prime South East Logistics Site
Investment manager BlackRock has secured an industrial redevelopment site in the Southeast in an off-market deal.The 12-acre Hertford Industrial Estate on Caxton Hill in Hertford was acquired from Eastwood, a privately owned, real estate development, investment and asset management company based in East London.
The industrial estate, originally built in the 1930s/50s, is currently 90% vacant and will be redeveloped to provide modern Grade A units from 5,000 – 220,000 ft2.
Jonjo Lyles, partner at M1 Agency said: “There is a huge and well reported shortage of modern Grade A industrial and logistics space in the Southeast pushing up rent levels to a point where the redevelopment of run down obsolete stock is not only viable financially but provides the best solution for occupiers to secure modern sustainable space going forwards.”
Subject to planning and development the new units are set to be available from mid 2023. The site is located close to major transport links. The A10 is approximately 1.5miles to the east providing swift access to the M25 via junction 25 at Enfield and to the north the A10 connects to Cambridge the A14 and the Midlands.
M1 advised BlackRock on the site acquisition and will be joint letting agent with Paul Wallace on the scheme.
Jonjo Lyles & Stuart Atkinson, M1 Agency 07388 488252