Marchmont Investment Management and NW1 Partners have sold 29 Central Avenue, a 1.35-acre vacant development opportunity in Southwest London, to Logicor for £8.1m.
Marchmont acquired the site when fully let for £5.025m in December 2021.
The building is an affluent last mile logistics location being within easy reach of the M3, M25 and A3 and less than 9 miles from Heathrow Airport. The site was sold with vacant possession and occupies a prominent corner location on West Molesey Trading Estate, a prime logistics estate serving the affluent suburbs of Walton on Thames, Esher, Surbiton & Kersham.
Cameron Fraser, Director at Marchmont, comments: “The opportunity to trade the asset with vacant possession highlights the continued strength of the London urban logistics market and offers the buyer an opportunity to strengthen their foothold within the estate.”