SEGRO has bought a 30 acre site in Hayes that could be developed into a much needed warehouse and urban distribution park.
The site has been acquired from Nestlé in an off-market deal and was formerly the home of the company’s coffee production business employing more than 350 people.
Nestle announced the closure of the site in 2012 with production moving to its flagship production facilities in Derbyshire.
The site, which is less than a mile from junction 3 of the M4 motorway, offers easy access to the UK motorway network for regional distribution and to central London for urban logistics operators. It is also next to the Hayes and Harlington railway station which will become a Crossrail station in 2018.
Nestlé will remain in occupation for up to six months during which time they will decommission the site. During this period, SEGRO will consult with Hillingdon Council, the Greater London Authority and the local community on its plans for the site.
Andrew Gulliford, SEGRO’s Chief Operating Officer, said: “This transaction is an excellent way to add to our Greater London land bank in a location where occupier demand is strong and there is a lack of modern warehouse and urban distribution facilities.”
Two thirds of SEGRO’s portfolio by value is in London and South East England and the acquisition of this site marks a significant addition to its existing well-located land bank. Within its Greater London business, SEGRO completed 400,000 sq ft of warehouse development in 2014 and around 285,000 sq ft of development is in the pipeline.
SEGRO was represented by Savills.