The 1.9ha (4.6 acre) former Eastern Electricity site at Harold Hill Industrial Estate, Gallows Corner, Romford has been sold for a figure approaching £5 million.
This makes it one of the most expensive industrial development sites in the region.
It was acquired from Ampere LLP by Bournelodge and Frogmore Property in a joint venture which will develop the site into a series of smaller units for sale freehold.
Perry Holt & Co acted for Bournelodge. Ampere LLP was advised by AC Estates as asset managers and Bidwells.