International law firm Gowling WLG has advised leading owner, manager and developer of modern warehouses and light industrial property SEGRO on its £202 million acquisition of Perivale Park from Federated Hermes.
The 34-acre warehouse estate in West London provides the FTSE 100 business with 55,100 sq. m. of lettable space in a key location next to Perivale Underground Station and along the A40 main road in to Central London, making it easily accessible for workers on the estate and local residents.
The transaction saw a 25-strong cross-firm team, led by partner Michael Twining, provide advice on real estate, planning, construction and employment law and reach completion within a week of the deal commencing.
Michael Twining said: "This is a significant transaction for SEGRO and one we're delighted to have advised them on. It provides SEGRO with an excellent estate in a prime location, with opportunities to add further value and scale and also demonstrates that deals can be done during lockdown."
Alan Holland, Business Unit Director for SEGRO's Greater London portfolio, said: "Perivale Park is a perfect fit for SEGRO, sitting adjacent to the A40 and nestled between our core holdings in Greenford and Park Royal. It offers a rare opportunity to build further scale and drive value in an area where we already have considerable expertise and knowledge of the local market and customer base. It also offers medium-term development and redevelopment potential in one of London's prime, and most supply-constrained, industrial clusters."