Henshall & Partners, a leading South London commercial property consultancy, has overseen the off-market sale of a substantial 23,344 sq. ft. warehouse on Malham Road, Forest Hill, to London Metric for £5 million.
The prime site extends across 0.45 acres and comprises two adjoining warehouses, with secure front yard space.
One of the units benefit from an incumbent tenant, Browns of Brockley Ltd. and currently produces £60,000 per annum, whilst the larger vacant building has an agreement to be let by a dark kitchen operator. A combined rent roll for the asset could reach up to £300,000pax.
The Malham Road deal adds to a successful period for Henshall & Partners, in which the property firm has concluded a succession of high-profile industrial deals in inner London over the past 18-months, including:
- 60,000 sq. ft. warehouse in Bermondsey sold to Legal & General IPIF for £16.5m
- £12m industrial site acquired on Brixton Hill for Bloom Developments
- 0.5-acre industrial site just off the Old Kent Road sold to Apex Capital for £6m
- £3m warehouse extending 12,000 sq. ft in Sydenham sold to Vengrove
Chris Henshall, Managing Director of Henshall & Partners said, “The Malham Road warehouse was a prime asset that we knew had fantastic potential. The landowner wanted us to conclude an off-market disposal, so we reached out to our trusted contacts and were able to secure a substantial price in very quick time.
“Malham Road is a popular industrial estate in Forest Hill and due to its status as a Local Industrial Zone, within a densely populated residential area.
“Thus, generating demand for convenience grocery and dark kitchen providers to thrive and service the growing demand in the sector’
“The Malham Road deal also represents another record sale secured by Henshall & Partners in the industrial sector, an area of the market we are becoming particularly strong and looking to further increase our offering.”
Henshall & Partners is currently marketing a range of commercial, investment and development opportunities in London.