Rockspring Property Investment Managers sells Erith Distribution Centre

Glenny LLP acting on behalf of Rockspring Property Investment Managers and Caisson Investment Management has completed the sale of Erith Distribution Centre, Kent to a Local Authority Prop Co. The detached 96,774 sq. ft. warehouse/industrial unit sits on a 3.23-acre site and offers 11.5 m eaves, six dock level and three ground level loading doors, and is located close to Erith town centre. Currently under refurbishment, the unit is due to be offered back to the market to let. Richard Seton-Clements, Divisional Partner of Glenny’s South East London & Kent office, said, “The demand for freehold stock from both investors and occupiers remains strong, with mixed-use aspirations along Erith Riverside magnifying the interest in this area for the future.” Dan Maynard, Asset Manager at Caisson Investment Management, commented, “We acquired Erith Distribution Centre as it fits our acquisition profile for mid-box sized units (100,000-200,000 sq ft) that require refurbishment and are located in areas that we have identified, using our in-house Panther database, as having future supply shortages.  We have successfully deployed this strategy across the UK on behalf of a number of funds.” The joint agent on this sale is Gerald Eve.