London,
07
April
2017
|
16:32
Europe/London

CBRE ADVISES SEGRO ON SALE OF NORTHFIELDS INDUSTRIAL ESTATE

Global real estate advisor CBRE has advised SEGRO on the sale of Northfields Industrial Estate, LB Brent to St George Developments.

The Northfields Industrial Estate is a 21 acre brownfield site located in the Alperton Housing Zone. St George has bought the site unconditionally and with vacant possession following a competitive bidding process.

Andrew Purdon, Senior Director in CBRE’s London Development Team
The sale of Northfields Industrial Estate is perhaps the most significant development deal in the outer boroughs of London since EU Referendum. The site is not suitable for industrial development due to various technical constraints and will provide much needed new housing in Alperton. SEGRO will reinvest in their urban logistics development programme whilst St George will undoubtedly deliver a beautiful new residential district for Brent. It is very good news for London.
Andrew Purdon, Senior Director in CBRE’s London Development Team