Segro has acquired a 20-acre development site east of London from Savills IM, which the firm says has the potential for 400,000 sq ft of development.
The site, in Purfleet is positioned adjacent to the A13 corridor between the London boroughs of Barking and West Thurrock. It is inside the M25 and in close proximity to Junction 31 of the M25.
The firm said that the on-going boom in internet retailing, together with improving economic conditions in major markets like London, has meant that it has experienced particularly strong demand from parcel delivery companies, third party logistics operators and retailers searching for locations from which to service their customers.
A number of retailers, including Amazon, Sainsbury’s, Tesco, John Lewis and Ikea have sites in the area.
Alan Holland, Segro’s business unit director for Greater London, said: “The deal fits with our strategy to increase our presence in East London, where our customers are looking for space to service the ever increasing population.”