US-based industrial real estate and investment manager Bridge Industrial, has bought its first warehouse in the UK since opening its London office in November 2020 and following the announcement that is has struck a £1bn development partnership Canada’s largest pension investment manager, Public Sector Pension Investment Board earlier this month.
Bridge has purchased a site with an existing warehouse unit in the Great Western Industrial Park in Southall, North West London which it will redevelop speculatively to provide much needed Grade A last mile space.
Bridge will commence the construction of Bridge Point Southall during Q2 2022. Completion of the project is expected in Q1 2023.
Paul Hanley, Bridge’s London Partner, comments: “Since launching in the UK we have been actively pursuing land and development opportunities throughout Greater London and are pleased to have a number of sites already under offer. We have substantial capital to invest across Greater London, the South East and the West Midlands, and are delighted to have completed our first site acquisition, with more to follow very soon.”
The site is perfectly located with easy access into Central London as well as great connections to Heathrow Airport, the M4 and the wider UK motorway network, making it a prime location for last mile logistics.
Bridge was represented by Cogent Real Estate in the transaction.