03 Feb British Land acquires three warehouses in Wembley for £157m

British Land has purchased three warehouses in Wembley for £157million, due for completion mid-February.

The three buildings cover more than 245,000 sq ft on a 12.5-acre site.

The warehouses are fully-let to Amazon, Euro Car Parts and the North London Waste Authority, generating an annual income of more than £3m.

Simon Carter, chief executive of British Land, said: “This acquisition is another example of the strong progress we are making against our strategy to address the chronic shortage of urban logistics space in central London via intensification and repurposing.

“Wembley is ideally located for vehicles coming into London and subsequently out for delivery with excellent access to affluent parts of the capital.”