Specialist logistics developer Padrock has acquired an eight-acre site in Leyton, east London, to speculatively build a 210,000 sq ft urban multi-let industrial (MLI) and logistics development.
The developer believes this to be one of the largest urban MLI and logistics sites to have been acquired in London this year. The vendor and all values relating to the transaction are undisclosed.
Called Leyton Logistics Hub, the development will comprise 11 units ranging from 6,000 sq ft to 36,000 sq ft all of which will target EPC A+ and BREEAM Outstanding ratings. Once complete, the development will have a gross development value of around £130m.
The site is located off Church Road within the A406 North Circular Road, and in close proximity to the A12, providing strong connectivity to central London.
Detailed planning consent is already secured with construction expected to commence imminently and practical completion anticipated mid-2026.
Headquartered in London, Padrock is a developer and asset manager which specialises in logistics and light-industrial assets across the UK and Europe.
This acquisition will further enhance the company’s UK portfolio which already comprises Dagenham Logistics Hub in east London, Hertford Logistics Hub in Hertford and Erith Logistics Hub in Erith, south east London.
Padrock partner, Mark Symonds, commented: “This latest acquisition reinforces our commitment to the London multi-let market and reflects Padrock’s ambition to become a leading provider of high-quality, flexible industrial space in urban submarkets.”
Leyton Logistics Hub will deliver a modern multi-unit scheme of high specification industrial and logistics accommodation with strong sustainability credentials such as green walls and roofs.
The site’s strategic location and proximity to both central London and key arterial routes make it a prime location for logistics, trade and light industrial occupiers.
Glenny, M1 Agency and Simmons & Simmons acted on the transaction.
