RLAM and Graftongate buy £90m Teddington site for industrial makeover

Royal London Asset Management Property has bought an eight-acre site in Teddington, south-west London, from life sciences tool provider LGC Group for a £90m industrial development. This is the second deal in partnership with Graftongate, having bagged a 24-acre site in Fareham, Hampshire, earlier this year from Eaton.  The partners will seek to build a high-quality estate at Teddington, combined with car parking and loading spaces, in a move to capitalise on the lack of modern supply in the local area. Matthew Barnes, senior industrial asset manager at RLAM Property, said: “This deal presents an opportunity for us to increase our exposure to London, where we are seeing continued occupational demand.” Paul Hanley, development director at Graftongate, said: “Graftongate has experience across the Greater London market, where we have gained a track record for developing high-quality, sustainable industrial and logistics accommodation.”