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Industrial Leasing

Phoenix Wharf, Towpath Road, Lea Valley Trading Estate, N18 3QX


Client

Zefilix Limited

Property

5 acres (2.02 hectares) of open storage land enclosed mainly with palisade fencing

Project Summary

Phoenix Wharf comprises four individual parcels let on four separate leases, within an industrial estate of approximately 5 acres in The Meridian Water Masterplan. The Estate includes a private access road and public road access is via Towpath Road. The majority of the site is used as open storage, with a waste station on part of the land occupied by L & M Skips.

We have rented this to various industrial and waste operators in the past 4-5 years.

The rents are circa £2.25 per ft2 for a variety of uses.

The site came available for sale and it was in very high demand. Even with a potential CPO looming. our clients managed to secure a sale at £11,000,000 for the site as an investment property with the potential of future development.

The leases range from 3-10 years.

We worked with our West End based client to secure maximum return.

The Meridian Water Masterplan was adopted in 2013 and it creates one of the largest areas of developable land in North London, providing a significant regeneration opportunity in the Upper Lee Valley region.

The intention is to create a new waterfront community with the emphasis on sustainability. The Masterplan aims to deliver a predominantly residential based community with supporting elements of mixed use over 85 hectares of land. This should enable the creation of 8,000 new homes and 3,000 new jobs supported by appropriate public transport links, schools, shops, restaurants, green space and health centres. In order to kick start development Enfield Council have recently purchased 9 hectares of land from National Grid to enable an application for Housing Zone status for Meridian Water from the Greater London Authority. This site should facilitate the building of 1,500 new homes with Enfield Council poised to secure a further 3 sites for an additional 2,500 homes.

Meridian Water is only six miles from Junction 25 of the M25, 25 minutes from City Airport, 30 minutes from Westfield Stratford, 35 minutes from Stansted airport, 43 minutes from Heathrow and two hours 50 minutes from Paris via Eurostar, creating an excellent and well-connected location for development and growth in London.

Ross Di-Iorio

020 8509 4403
ross@strettons.co.uk