Legal & General has bought a south London warehouse from a local landowner for £16.5m.
The 1.4-acre site and 60,000 sq ft shed in South Bermondsey, SE16, was bought by Legal & General’s Industrial Property Investment Fund. With £650,000 a year rent from long-term tenancies, the deal represents a yield of 3.9%.
Henshall & Partners, which acted on the deal, has also recently sold sites on Walworth Road, SE17, for £6.5m, Risborough Street, SE1, for £4.35m and Lynton Road, SE1, for £2.5m.
