CCLA Investment Management, advised by Gerald Eve, has acquired Clayton Business Centre in Hayes, West London from Aberdeen Asset Management for £7.58 million.
The fund manager has purchased the 36,000 sq ft multi-let industrial estate for its Local Authorities Property Fund, which currently has in excess of £600 million of funds under management.
John Prichard of Gerald Eve said: “This is a very well located estate with a low base income and opportunities to enhance the asset through active management.
“With the compelling occupational fundamentals in West London and the wave of activity and development generated by Crossrail, this asset provides strong fundamentals for growth, making it an attractive addition to the Local Authorities Property Fund.”
Kimmre acted on behalf of Aberdeen Asset Management.