Gazeley Pre Let And Sale At Enfield

National law firm Irwin Mitchell’s new City based Real Estate team has acted for Gazeley UK Limited on the forward sale of Unit 1, G Park, Enfield to registered charity Christian Vision for a total consideration of £20.15 million, to be paid in two payments.

The Irwin Mitchell team was led by Real Estate Partner Jo Footitt, assisted by Associates Louise Cartwright and Richard Kelly who worked alongside Construction partner David Parton.

The sale follows the pre-letting of the development by Gazeley to Tesco Stores Limited in November 2010, a transaction which was worked on by the same Irwin Mitchell team.  Tesco is to take a 20 year lease of the 152,000 square foot unit at an annual rent of approximately £1.1m. Construction on site is already underway and practical completion is targeted for the end of April 2011.

Rebecca Glover and Rebecca Rowley of Pinsent Masons acted for Christian Vision, which is related to property company I.M. Properties plc.

Jon Vivian, head of real estate at Irwin Mitchell, said “Our new team has only been in place since the end of 2010 and I am delighted we have already signed these two deals for such a prestigious client.”