Leyton Warehouse Let to Ocado Sold for £10.9 Million
Strettons advises private seller on sale of Alito House to LondonMetric Property PLC
Strettons’ Industrial and Logistics Department has sold Alito House in Leyton to LondonMetric Property Plc for £10.9 million on behalf of a private client.
Alito House is a 32,043 sq.ft warehouse and logistics unit and is currently let to Ocado Group, the online supermarket, for a further eight years. The property is a prime, modern and well-configured unit located on a two-acre site with low density on the Argall Industrial Area, which has excellent links to Central London via the A12 and A406.
Neal Matthews, Strettons’ Agency Director, said: “Our Industrial and Logistics team have historically been involved in letting and agreeing the rent review for Alito House and were pleased to act on behalf of the private seller once again. Our knowledge of the property, client and its location has led to agreeing great results from the sale.”
“The sale also demonstrates the current market conditions. Well let properties are becoming increasingly sought after by investors given the prevalence of low interest rates in other asset classes and we expect to see this trend continuing.”
Strettons advised the private client on the sale of Alito House, and LondonMetric was advised by Stonehill Partners.