A north London retail park has been acquired by the world’s largest warehouse company in a landmark deal that will see it converted into space for fulfilling online deliveries.
Prologis, which is listed on the New York stock exchange, has acquired the 128,000 sq ft Ravenside retail park in Edmonton to convert it into warehouses for ecommerce deliveries.
The site was bought for £51.4m from investment manager M&G, according to a report by property news website React News.
It is thought to represent the first deal of its kind in the UK and underlines the growing shift from bricks-and-mortar retail to online.
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