Sunrise Real Estate has bought a self-contained freehold industrial site at 12 Waxlow Road, Park Royal, one of London’s most established and supply-constrained industrial locations.
The property comprises an industrial warehouse extending to 42,079 square feet, constructed in 1998, on a 2.9-acre site.
The asset has detailed planning consent in place for the development of an 111,492-square-foot prime logistics warehouse.
The vendor has not been disclosed but is understood to be US investment giant Ares. Sunrise is understood to have paid £24.51 million.
Ares Management bought the asset as part of a portfolio of properties from GLP in March 2025. It has short-term income.
Park Royal is perhaps the UK’s most in-demand industrial hub, approximately eight miles north west of central London and home to occupiers spanning logistics, manufacturing and creative industries.
LSH acted on behalf of Sunrise Real Estate, with SBY Real Estate acting as joint agents on the acquisition. The vendor was advised by Levy Real Estate and Savills.
Alex Carr, executive director at Lambert Smith Hampton, said in a statement: “We are delighted to acquire another asset for Sunrise Real Estate, following on from our acquisition of Tesco, DIRFT in 2024, in what remains a core West London industrial stronghold. Opportunities of this scale and quality in Park Royal are increasingly rare, and we look forward to working closely with Sunrise as we execute the proposed business plan for the site.”
Kyle Streitburger, head of investment at Sunrise Real Estate, added: “This acquisition aligns strongly with our strategy of targeting high-quality industrial assets in supply-constrained urban locations. Park Royal continues to demonstrate robust occupational demand, and the combination of short-term income with a clear development pathway presents a compelling opportunity for Sunrise as we look to deliver best-in-class logistics space in London.”
Sunrise is a privately-owned real estate investment management company headquartered in London and targeting UK and European industrial real estate.