Wednesday 26th Oct 2016 - Logistics Manager

SEGRO acquires £30m East London warehouse

SEGRO has completed the acquisition of Gemini’s £30 million 25,500 sq m logistics warehouse in Barking, East London.

Developed in 2004, the facility is located close to the A13 and the A406, which SEGRO said provides fast access to central London, the M25, and the national motorway network.

The company said East London is also an area with strong potential for expansion.

“This is an excellent opportunity to acquire a modern and well specified warehouse in a key location close to central London, where the supply of this type of product is limited, and with good national transport links,” said chief investment officer at SEGRO, Phil Redding.

“This purchase supports our expansion plans in both the UK and Continental Europe.”

The warehouse is being let until 2028, to bonded warehousing and distribution company, London City Bond, which services the wines and spirits industry.