Royal Mail shed back on the market

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Capita Symonds and DTZ have jointly been appointed by Royal Mail as letting agents on its 185,000 sq ft East London mail centre site at Bromley by Bow, in East London.

The instruction comprises the largest agency mandate of existing industrial stock in the south east in the last 12 months. The building is held on a lease which expires in 2022, and has a passing rent in excess of £1.5 million.

Built in 2002 the facility has the capacity to be extended to provide up to an additional 40,000 sq ft. The Bromley by Bow depot is situated within two miles of the Olympic Village, and five miles of London City.

The property, which will be vacated by Royal Mail by Summer 2012,  has become surplus to  Royal Mail operations as part of a wider Rationalisation and Modernisation programme which Royal Mail is implementing in  London, and across the UK.  Royal Mail originally announced in March 2011 that it would be closing East London mail centre in 2012.

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