GLi – a joint venture between KSP and PATRIZIA – has been granted planning permission for development of two of its signature ultra-sustainable warehouses located at the heart of the Croydon industrial area.
CR1 (52,605 sq ft) and CR2 (55,165 sq ft) are situated between Imperial Way and Queensway, a prime location for companies serving London and rapidly involving as the prime location for businesses of the future. CR1 and CR2 provide ideal opportunities for businesses looking to serve the South London and Southeast market and could be combined into a single 107,770 sq ft unit.
This scheme is the first GLi development to achieve planning outside Park Royal and furthers GLi’s aim to meet the increasing market demand for sustainable last-miles logistics space within the M25. Both units are designed to save occupier costs and are 100% electric with maximum rooftop PV coverage. CR1 and CR2 will also be delivered with batteries included as standard, allowing the units to store solar energy and collect cheaper off-peak electricity from the grid – offering occupiers energy cost savings of approximately £1.50 per sq ft.
100% of the parking spaces have access to EV charge points allowing businesses to convert to all-electric van fleets at a per annum potential saving of £2-3,000 per vehicle. CR1 and CR2 will also deliver biodiverse landscaping and rainwater harvesting.
David Johnson, Chief Executive Officer at KSP, said: “Croydon is a perfect location for our first units serving Croydon, South London, and the Southeast. Our designs help occupiers to save energy and operating costs and deliver to their customers with even more efficiency. It also provides businesses with an ultra-sustainable building that will adhere to strict government energy efficiency targets.”
Luke LeBrun, Director, Asset Management at PATRIZIA, said: “Delivering modern, high-quality logistics assets is absolutely essential for addressing the challenges of urbanisation and decarbonisation. Through our GLi platform, we are developing a portfolio of best-in-class urban logistics properties from the ground up, accelerating London’s ability to respond to these challenges while also generating significant value for our investors, tenants and Londoners more broadly.”
Alex Gale, Partner of SHW, letting agents for CR1 and CR2, comments: “We are delighted to be working with GLi to bring forward these buildings that will be at the forefront of a new generation of ultra sustainable and super-efficient warehouses coming to South London, which will reduce running costs and meet future eco requirements.”
GLi is a partnership between London-based asset manager and developer KSP and global real asset investment manager PATRIZIA. The GLi platform aims to invest a further GBP 640 million in urban logistics assets in strategic locations across Greater London.