MHA London has sold the freehold interest of 110-116 Pennington Street, E1W to the self-storage operator Big Yellow Group for £10.75m.
The majority vacant warehouse of approximately 63,000 sq. ft. spread across the ground and three upper floors, fronts onto The Highway and Pennington Street in the London Borough of Tower Hamlets. The building is located directly opposite London Dock, a major regeneration programme by the Berkeley Group, anticipated to deliver 1,800 homes with retail and leisure space.
Jonathan Ruback, Partner, Commercial Investment, at Allsop commented: “This site offers great potential and is strategically located in an area undergoing vast regeneration and development. Wapping also boasts excellent transport links to Canary Wharf, City of London and beyond, making this a desirable acquisition that generated a lot of interest among potential buyers.”
Big Yellow Group intend to operate from the site and were unrepresented. Allsop LLP & Richard Susskind & Co. represented the vendor.
Notes to editor
Allsop is an independent property consultancy with a market-leading reputation for high quality service, integrity and innovation. We are also well known as the UK’s largest and most successful auction house. Our success is built on over 100 years’ experience in commercial and residential property consultancy and sales.
For details visit www.allsop.co.uk
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