Real estate investor and developer, Firethorn Trust, is set to develop its first last-mile industrial scheme, following the acquisition of a 4-acre site in Belvedere, South East London.
The speculative development marks Firethorn’s first venture into London’s logistics market, where it will deliver 94,000ft2 of Grade A last mile logistics space.
The acquisition has now completed and work is set to commence this year.
This latest deal follows Firethorn’s recent acquisition of a 24-acre scheme in Barnsley, and takes its current development pipeline to more than 2.8 million ft2.
Dan Green, Associate Director at Firethorn Trust, said: “Marking the first London development in our growing logistics portfolio, this acquisition is an exciting deal to kick-start 2022, and demonstrates our ambition for the future.
“We have recognised the urgent demand for new, high-quality assets to effectively supply major cities across the UK.”