Ocado signs for former Homebase

Aviva Investors has secured a new letting to online supermarket Ocado at its Merton industrial park in South London. Ocado will occupy the 32,600 sq ft site, formerly occupied by Homebase on a 10-year FRI lease. It joines Amazon, lighting retailer Whitelight and bakery wholesaler Bako at the park. Aviva Investors asset manager Colin Lawrence-Waterhouse said: “The quality of tenant attracted to the estate is reflective of its strong location for urban logistics, with excellent access to suppliers and customers in Central London and beyond via major road networks including the adjacent A24 and the nearby A3. “This type of asset remains in keeping with our desire for high-quality assets in strong locations, and we believe it will continue to perform well over the long-term.” Ocado’s director of operations, Richard Locke, said the site was a “critical part” of the business’ growth ambitions. The firm has seen profits double as grocery delivery has soared during the coronavirus pandemic. Last month it raised £1bn to aid its expansion. Aviva Investors was advised by Altus Group, Centro and Avison Young; Gerald Eve acted for Ocado. To send feedback, e-mail samantha.mcclary@egi.co.uk or tweet @samanthamcclary or @estatesgazette