// M&G sells Ravenside Retail Park for £51.4m to warehouse firm Prologis
// The 128,000sq ft retail park will be converted into warehouses for online retailers
M&G has sold Ravenside Retail Park in Edmonton, north London, to warehouse company Prologis for £51.4 million.
The 128,000sq ft retail park has been bought to be converted into warehouses for online retailers.
The deal was finalised shortly before Christmas.
The park comprises of seven retail units.
One unit is vacant and occupants at the other units include Argos, Carpetright, Mothercare, Wren, Tapi Carpets and Wickes.
“The UK retail market is changing, as more and more people order goods online,” Prologis head of capital deployment UK Robin Woodbridge said.
“Because of this, our customers, who include household retail names such as Amazon, Argos and John Lewis, need logistics facilities close to where people live and work, so they can fulfil deliveries of goods ordered online efficiently.”