Eastwood sells industrial estate to BlackRock for £16.6m
Eastwood has sold its 7.5 acre Hertford Industrial Estate site in Caxton Hill Hertford, which it owned jointly with VFund and ASK Capital Partners, to investment manager BlackRock for £16,600,000.
The privately owned East London based property development and investment company unconditionally acquired the 130,000sqft estate in 2018 from LaSalle Investment Management. With initial plans for mixed use redevelopment, the recent industrial and logistics market boom generated strong unsolicited interest from multiple commercial investors who saw opportunity to create a ‘last mile’ logistics hub.
M1 Agency advised for BlackRock, with Howard Kennedy representing Eastwood.
Caxton Hill was one of a number of assets held under management by Eastwood. With a significant pipeline of residential and commercial development sites both in planning and under construction across London and Home Counties, Eastwood is actively seeking further new regeneration opportunities.
Eastwood is led jointly by Joshua Princes and Philip Chadda.
Joshua Prince, CEO of Eastwood, commented: “The sale of Caxton Hill enables us to recycle further capital into our growing pipeline of brownfield and strategic development projects. We continue to leverage our expertise in adding value through asset management and securing planning, enabling residential and commercial development throughout Greater London and the Home Counties.”