American developer Prologis has bought a 10-acre site in Croydon.
The US firm has struck a deal with Thames Water to purchase the land, on Beddington Lane, for around £3million per acre.
Prologis, according to Property Week, beat a long list of bidders for the site, which can accommodate around 200,000 sq ft of industrial and logistics space.
Savills advised Thames Water on the Croydon land sale.