Developer Prologis, has acquired a 30-acre site next to Stockley Park in Hayes, Middlesex, from Stockley Park Consortium, a joint venture between Kajima Europe Ltd, M&G Real Estate and Duelguide.
It is thought that the site was bought for a price close to £1.5m an acre. Prologis proposes a mixed light industrial and distribution development at the site and will submit a planning application to Hillingdon Borough Council early next year. As part of its proposal, Prologis will work with the Council to bring approximately 40 acres of additional land close to the Stockley Park site into the public realm.
The site, which is near Prologis Park Heathrow on Stockley Road, has easy access to Junction 4 of the M4 and is about two miles from Heathrow Airport.
“There is a good level of demand for industrial and distribution property in West London and very little supply, so we are delighted to have secured this site,” said Andrew Griffiths, managing director, Prologis U.K. “Prologis Park Heathrow has been a great success, and we plan to offer sustainable facilities that maintain the same high standards on this new site.”
Savills acted for Prologis and the Stockley Park Consortium was represented by JLL.