Developer SEGRO is set to start speculative development at its prime industrial site known as Origin, situated close to the A40 in Park Royal, West London.
The 22 acre site will be developed over two phases. In Phase 1, SEGRO will develop 1158,200 sq ft on a speculative basis. This will take the form of three stand-alone units of 36,360 sq ft, 53,150 sq ft, and 68,690 sq ft, all with secure yards. Phase 2 will be able to accommodate up to 303,000 sq ft in a range of units and is being marketed on a pre-let basis.Construction of Phase 1 will commence in March 2014, with completion scheduled for November 2014.
The move follows positive discussions between SEGRO and High Speed 2 (HS2), the site has now been removed from the safeguarding list for HS2, meaning that development activity can now begin.
Alan Holland of SEGRO Greater London, said: “Our confidence in the improving market and the specific attractions of Park Royal means that we are now starting to develop Origin on a speculative basis. Given the known shortage of this type of accommodation, we are confident about the level of occupier demand for this flagship development. We believe it will act as a significant catalyst for attracting new businesses as well as promoting growth and bringing new jobs to the area.”