Gowling WLG advises Schroder on the sale of Electra Business Park to Segro

International law firm Gowling WLG's real estate team has advised Schroder UK Real Estate Fund (SREF) on the sale of Electra Business Park in East London to Segro for GBP133 million.

Electra Business Park is one of the UK's most sought after premier urban logistics parks, providing 228,137 sq. ft. of lettable space across 10 highly specified warehouse units. The park is in a prime location, close to Canary Wharf and London City Airport as well as being bordered by the A12 and A13 main roads, connecting it directly to central London.

SREF's decision to sell the business park comes upon completion of the business plan for the asset, after recently agreeing terms on the last remaining unit with a US tech firm, demonstrating continued strong underlying rental growth for last mile prime logistics.

Susan Bennett, real estate partner said: "Electra's location and offering made it one of the most attractive of logistics assets. We are pleased to have worked alongside Schroder's team and Gerald Eve to complete the transaction in a very short time frame; it was a great team effort".