Asset manager Royal London has sold an industrial site in West London, UK, to an unnamed data center operator for £315 million ($399m).
The 33.6 acre plot at the International Trading Estate, Brent Road, Southall, has been sold as a freehold data center development opportunity.
Royal London Asset Management said the site’s proximity to Heathrow Airport, which is two miles away, and the M4 motorway, make it an ideal data center location. Fiber connectivity is also available in the area.
The buyer has not been disclosed by Royal London, but is registered as a holding company, GTR London, suggesting it is likely to be linked to KRR-backed data center developer Global Technical Realty (GTR).
GTR already operates a 40MW data center campus in London, at Slough’s Segro trading estate. DCD has contacted the company for comment.
The sale is part of several deals announced by Royal London this week. Speaking to CoStar, James Orr, head of industrial and logistics at Royal London Asset Management Property, said: “We are extremely proud of the latest sector transactions as this pivot into development stock is a key component of our strategy.
“By rotating out dry investments through sales and recapitalisation, we aim to generate higher returns.”
https://www.datacenterdynamics.com/en/news/royal-london-sells-west-london-data-center-site-for-315m/
