Levy advises Aviva investors on canning town acquisition 23.01.14
Aviva Investors, advised by DE&J Levy, has forward purchased a new 114,324 sq ft warehouse and light industrial park in East London.
Aviva Investors (Essex County Council Fund) has agreed a forward commitment to purchase the Canning Town Business Park, which is due for completion in February 2014. The purchase price, which has not been disclosed, reflected the scheme’s gross development value of £18.75m and the vendor was WCT Ltd/Bilsdale Developments.
Set on a four-acre site, the development is located at Stephenson Street, Canning Town, opposite the Star Lane DLR station.
A pre-let on a 7,405 sq ft trade counter unit has already been agreed with Edmundson Electrical, at a rent of £15 per sq ft. Quoting rents on the remaining units, which range from 2,832 – 70,322 sq ft are between £11 and £13 sq ft.