Aviva Investors has announced it has acquired Phase 300, a more-than 111,000 sq ft multi-unit industrial asset located at Centennial Park in Elstree, Hertfordshire. 

It is the third investment Aviva Investors has made at the park, building on its previous acquisitions of the adjacent Phase 100 and Phase 200, which together account for approximately 230,000 sq ft of industrial warehouse and distribution space. 

James Stevens, Head of Real Estate Investments at Aviva Investors, said: “We have remained a strategic buyer throughout 2023, enabling us to make opportunistic purchases such as this off-market deal, and grow our presence in core locations across the UK. This is our third asset at Centennial Park, which has high occupancy rates, an HQ-style layout, and first-class transport link into London and nationally. With plans for significant residential development in the local area, we regard its future prospects highly and believe we now have a compelling portfolio of assets at the Park which can deliver excellent long-term value for our investor clients.”

Phase 300 comprises a total of 12 units ranging from 5,017 sq ft to 16,758 sq ft, which together provide more than 115,000 sq ft of gross external area, alongside separate loading areas and 279 parking spaces. 

Home to more than 50 businesses and including hotel, gym and café facilities, Centennial Park borders the main conurbations of Watford and Borehamwood, and is one of premier satellite logistics hubs in the South East. It is situated on junction four of the M1 motorway.