Developer investor SEGRO is to speculatively develop a 108,000 sq ft five unit warehouse scheme at its SEGRO Park Rainham development due to “the strong and growing demand for industrial space in East London”.
Alan Holland of SEGRO, said: “The leasing success to date, coupled with the growing interest for space in this prime location, means we can progress the next stage of delivery with confidence.”
In its most recent Big Shed research report Savills noted: “Take-up in London and the South East totalled 3.92 million sq ft [in the first half of 2019]a 60 per cent increase above the long term average for the region. There is continued occupier demand for Grade A space in the region with 43 per cent of space let in H1 2019 involving speculatively developed warehouse space.”
This new speculative development marks the second phase of SEGRO park Rainham. The first phase attracted significant occupier interest, which has led to the successful letting four of the five available units.
Around 140,000 sq ft of space has been leased to date to a range of companies including Mitsubishi Electric, MEP Hire and Babcock, leaving one final 70,558 sq ft unit available for occupancy.
SEGRO Park Rainham is part of the East Plus partnership with the Greater London Authority, which will see the development of high-quality, well-connected industrial space across 86 acres of brownfield land in Newham, Barking & Dagenham and Havering.
SEGRO Park Rainham has spearheaded the project, which is one of the most significant regeneration and employment space creation projects in London and is set to deliver 1.4 million sq ft of modern industrial space in total over the 10-year programme.
The five units at Rainham, which make up the second phase, will range from 11,000 and 36,000 sq ft in size and represent a significant progression in design and innovation.
The development is targeting carbon neutrality and will incorporate a number of sustainability features aimed at enhancing employee wellbeing and which will help it achieve WELL ‘Core’ accreditation, such as a living feature ‘green’ wall inside a reception area, translucent wall and roof panels to allow in more natural daylight, and a ‘pocket park’ amenity space to enable people to take a break in a natural environment.
Other notable benefits include photovoltaic roof and wall panels to provide additional office heating, electric car charging points and an expansive landscaping programme which will see local habitats enhanced by the introduction of trees, wildflowers, hedges and wood piles to encourage native animal, bird and amphibious species.
The park boasts transport connections with easy access to both Junction 31 of the M25 and the A13 in less than ten minutes. Short distances to the Port of Tilbury and London Gateway Docks, alongside Barking Intermodal terminal, link Rainham to national and international transport networks, with fast access to Central London and London City Airport.
By Liza Helps