Segro And Royal London Asset Management Property Line Up Major Industrial Schemes
Two major industrial and logistics projects have been given the green light in separate deals across the south-east of England.
Segro has secured planning consent from the London Borough of Havering for the development of an industrial and warehouse scheme in east London called Segro Park Courier Road.
Planning consent for the 20-acre site in Rainham has been granted for up to 311K SF of new industrial and logistics space, and pre-lets are available for units from 95K SF to 261K SF. It will be one of the largest industrial and logistics sites within the M25 orbital motorway, according to Segro.
The scheme is the company’s fourth phase of development in Havering, following the completion of the first two phases at Segro Park Rainham, which achieved full occupancy earlier this year, and the first phase of development at Segro Park Ferry Lane.
It also forms part of the East Plus regeneration scheme, which is a partnership with GLA Land and Property that is set to deliver 1.4M SF of industrial space across the boroughs of Barking and Dagenham, Havering and Newham, targeting the regeneration of previously derelict or underused land.
Separately, Royal London Asset Management Property and logistics development specialist Scannell Properties have secured a 33-acre site in Tunbridge Wells, Kent, with outline planning permission for industrial and warehouse facilities.
The plot in Kingstanding Business Park will deliver more than 500K SF of industrial and logistics space at a gross development value estimated at £135M.
“This acquisition marks a significant milestone in our strategy to expand in the logistics sector and demonstrates Royal London Asset Management Property’s commitment to providing high-quality logistics developments in strategic locations,” Royal London Asset Management Property Investment Manager Daniel Shepherd said in a statement.
Royal London Asset Management Property manages more than 17M SF of industrial and logistics space across the UK. In May, the company finalised a round of transactions in the sector valued at more than £350M, including the sale of 33.6 acres of industrial estate in Southall and the acquisition of a 4.2-acre site in Havant.
