Strategic acquisition – adjoining property
We are pleased to present an opportunity to existing investors in Centennial Industrial & Logistics Fund II (CIL II) to acquire 418 Somerville Road, an improved adjoining parcel of land to 414-416 Somerville Road, with a total land area of 22,080 sqm and lettable area of 7,769 sqm. We believe that the Acquisition represents a strategic and attractive opportunity for investors that was not available at the time of original purchase.
The acquisition of the New Tottenham Property provides greater flexibility, enables the reconfiguration of existing tenancies and a potential staged subdivision as a longer-term exit strategy. It also grants better control of Victoria Drive, an existing private road alongside 416 and 418 Somerville Road