Aviva Investors has acquired the Triple Two Centre, a multi-unit distribution hub in Beckenham, south-east London.
The facility provides over 112,000 square feet of logistics space across 10 units. It is located on a site of almost 4.5 acres, with a 0.2 acre plot at the entrance to the estate which is currently undeveloped.
See also: Rising bond yields: A one-off adjustment, or a warning light for investors?
The firm pointed to its proximity to multiple motorway access routes as a major plus point.
James Stevens, head of real estate investments at Aviva Investors, said: “We are pleased to complete what is an opportunistic purchase in the market, but one which we believe represents good value for our portfolio.”
“It is also a further example of how we are using our position as a strategic buyer to capitalise on our appetite for well-located and prime industrial assets, in good micro-locations and benefitting from strong occupier demand. We believe that all these attributes should lead to the centre delivering a positive long-term investment outcome for our investors.”
See also: PA ANALYSIS: The trials and tribulations of investing in European equities
