A specialist Europe and UK-focused real estate investor is looking to buy a chunk of Sevenoaks town centre from Aberdeen, CoStar News can reveal.
According to sources, Compagnie Du Parc has gone under offer to purchase a circa 77,000-square-foot slice of Bligh's Meadow in Sevenoaks.
Aberdeen instructed JLL to seek offers in excess of £26.7 million at the end of last year for the scheme, which reflected an initial net yield of 7%. Tenants at the retail and office complex include Amazon Fresh, Robert Dyas, Gail's, Nando's and PetsCorner.
It is understood that the investor, which has targeted industrial real estate in the UK, will pay a little under the quoting price, with Knight Frank acting for the buyer. The consultancy declined to comment, while the vendor and its adviser were also approached for comment.
The scheme generates an annual rental income of circa £2 million and has a weighted average unexpired lease term of 4.9 years to exposures and 2.9 years to break. It is 99% occupied and is close to the M2 motorway, as well as connecting to London Bridge station, which is a 22-minute journey.
Compagnie Du Parc recently completed other transactions with Aberdeen, buying a car dealership in Romford for £17.25 million. The group has said that it is looking to increase its Greater London industrial portfolio, with a budget of £100 million.
Last year it bought a pair of industrial properties in the London Borough of Bexley for £30 million, Five Arches Business Estate in Sidcup and Bourne Industrial Park in Crayford, comprising 139,500 square feet in total.