Click to read the article in full.
Segro has offloaded its Victoria Road warehouse to Imperial College London in a deal worth £115m. The university plans to utilise the property as a hub for early-stage companies engaged in scientific innovation.
The 10-acre urban warehouse estate, situated in Park Royal, West London, has been under Segro's ownership and management since 2009 following its acquisition of Brixton plc, as reported by City AM.
Segro revealed that due to the age and layout of the estate, it had recently ceased renting to tenants and started considering redevelopment of the property. This left the estate only 64 per cent occupied, generating a rental income of £3.2m.
Imperial intends to manage the site as commercial science innovation facilities for early-stage companies. This forms part of the 'Westtech Corridor', a new initiative
link source - Business Live News https://i2-prod.business-live.co.uk/commercial-property/article30147812.ece/ALTERNATES/s1200/0_the-segro-property-on-victoria-road.jpg