Strutt & Parker - Industrial Letting - London E16, Electra

Date: 17 Jul 2002

Schroders Exempt Property Unit Trust and Harbour Land have secured the first letting at Electra in Canning Town, E16 - east London's largest speculative warehouse scheme. Commercial Ceiling Factors, an interior building products supplier, has taken 3,370 sq m (36,275 sq ft) on a 25 y ear lease at £86 per sq m (8 per sq ft) for a distribution depot to service the City and Canary Wharf.

Electra comprises ten buildings with B1/B2/B8 consent totalling 20,795 sq m (223,839 sq ft) on a 5.5 ha (13.5 acre) site, with an anticipated annual rent roll of around £2 million. The remaining nine units vary between self-contained, stand-alone buildings and terraces of units of between 1,026 sq m (11,042 sq ft) and 4,930 sq m (53,064 sq ft).

Charles Crossland of Strutt & Parker's Industrial Department comments:
"This is the largest speculative development of its kind for this part of east London, where development potential has at last been recognised. Situated close to Canary Wharf and the City, and with easy access to the A13, M25 and M1, Electra is indeed a prime location and unique business opportunity."

Schroder Exempt Property Unit Trust and Harbour Land were jointly advised by Strutt & Parker and DE & J Levy. Fuller Peiser acted for Commercial Ceiling Factors.

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