Commercial real estate investor and developer, Firethorn Trust, has secured a 4.3 acre site in Rainham, East London to speculatively develop a 97,000ft2 last mile warehouse scheme.
It acquired the site from Ryder and work is set to commence on the £52.5 million scheme in Q1 2023 with practical completion in Q3 2023.
The scheme marks Firethorn’s second venture into London’s logistics market, following the acquisition of a 4-acre site in Erith, south east London, earlier this year. This latest deal takes Firethorn’s current development pipeline to more than 3.84 million ft2.
Dan Green, Associate Director at Firethorn Trust, said: “We know that there is strong occupational demand for last-mile developments in strategic London locations, offering excellent connectivity in the capital and to major cities across the UK. Our developments in Rainham and Erith will strengthen and complement our growing national portfolio, and further establishes our commitment to build modern and highly-sustainable logistics warehousing that meets occupier and investor needs.
Firethorn Trust was advised by SpringerNicolas