Barings, one of the world’s largest diversified real estate investment managers, and property developer HBD, have acquired a strategically located logistics development opportunity in Rainham, London, UK, in a joint venture partnership (the “JV”) on behalf of a pan-European value-add strategy.
The 20.5-acre site has outline planning for B1c, B2 and B8 uses and the JV plans to build a large to mid-box scheme totalling circa c. 368, 000 sq. ft. with design and build opportunities being considered.
The redeveloped site will aim to provide new high specification, highly sustainable industrial and logistics units, including enhancements to the River Thames waterfront and cycle path. The site also presents an excellent opportunity for river logistics with potential jetty access.
Work is due to begin next year and, once completed in 2023, is expected to have a GDV of over £100 million.
The asset is located in Rainham, 15.5 miles east of central London, and benefits from excellent transport links via the nearby A13. The A13 provides access into central London and out to the M25 motorway and the Dartford crossing (A282) 8 miles to the east, allowing easy access to the wider SE and London region.
Source : Joint release