Property group buys industrial estate in Barking in �8m deal

A property group has leased a multi-million pound estate in Barking to a building material company as part of a 12-year deal.

LaSalle Investment Management bought the London Works Estate, off Ripple Road, for �8.5million.

The 63,000 sq ft estate will be leased to Saint Gobain Building Distribution Ltd, which specialises in construction materials, until 2024.

LaSalle associate director Toby Wenham said: “The purchase forms part of the strategy in purchasing quality industrial stock in well located areas.”