Real-estate investment manager Barings is seeking to develop a 381,000ft2 logistics hub in London with joint venture partner, developer HBD.
A detailed planning application has been submitted to develop a strategic logistics scheme in Rainham, London, which will transform a 20.5-acre brownfield site acquired by HBD and Barings last year.
The new development, Momentum London, would create 381,814ft2 of new logistics and industrial space across four units ranging from 41,000-171,000ft2.
The new scheme, which is targeting BREEAM ‘Excellent’ and an EPC A rating, will benefit from a landscaped environment with river views and high sustainability credentials, including PV solar panels and access to the Thames Cycle Path.
“With growth in demand significantly outpacing that of supply, projects like Momentum London will be in a strong position to appeal to prospective occupiers,” said Darren Hutchinson, Head of UK Real Estate Transactions and Managing Director at Barings.
Indeed, Simon Quine, Senior Development Surveyor at HBD, said: “Industrial and logistics space remains in very limited supply across London, particularly larger distribution units. Momentum will plug that gap within the M25 and provide modern, sustainable logistics and distribution space to serve London and the wider South East market.
“Landscaping and wellness have been thoroughly considered, with careful design considerations and enhancements to the Thames Foot and Cycle path, which we hope will help occupiers to attract and retain staff.”
Subject to planning permission, the JV is targeting start on site in Autumn 2022 with the units available for occupation from Autumn 2023.
Letting agents are Montagu Evans and CBRE.