18 Nov GLP pays double the value for Park Royal site
Posted at 15:51h
in Brent
GLP has paid £48million for a 2.9-acre site at Park Royal, more than double the price the plot was originally marketed at.
Competitive bidding was said to have sky-rocketed the price after Savills initially valued 12 Waxlow Road with a guide price of £23m.
It’s thought GLP may consider redeveloping the site or re-let it on a lease.
The plot is currently fully let to Panalux on a 20-year lease expiring in 2023. Nearby occupiers at Park Royal include FedEx, McVitites, Royal Mail and XPO Logistics.