CdP completes £17m BMW dealership acquisition
Specialist investor acquires major dealership facility and aims for further acquisitions of industrial real estate within M25
London, 17 December 2020 – Specialist real estate investor Compagnie du Parc (“CdP” or “the Group”) announces it has completed the acquisition of a BMW/MINI car dealership from Aberdeen Standard Investments at a price of £17.25m. The asset is located in Romford, in the north east of Greater London, and consists of two properties on a site totalling 1.678 hectares. Both properties are let to Sytner Properties Limited, the UK’s largest franchised vehicle retailer, on 35-year leases expiring at the end of 2039. The purchase of a major branded dealership and aftersales facility inside the M25 motorway is in line with the Group’s stated strategy that focuses on light industrial and logistics assets in urban locations within Greater London. The site is well located and presents opportunities including future densification, alternative industrial use, attractive income profile and RPI linked rent increases. CdP is looking to increase its Greater London portfolio, The Last Mile SA, to benefit from the supply and demand imbalance in London’s industrial and logistics space. The Group will focus further investment on industrial assets with a value add profile, and will consider portfolio, distressed and vacant opportunities with a focus on assets requiring refurbishment or capital upgrades.
Jonathan Coenca, Managing Director of Compagnie du Parc Limited, commented:
“This is a rare opportunity to acquire a major branded dealership facility located inside the M25 motorway – an excellent location with an attractive income profile. There is exceptional demand for industrial assets in this region and we are confident in the long-term appeal of this site. In line with our strategy, we are well positioned to identify further opportunities and continue investing in London’s robust industrial and logistics sector.”