SEGRO has broken ground on their flagship Origin development in Park Royal.
Origin, which is situated in the heart of Park Royal close to the A40, anticipates likely future demand for high quality light industrial and logistics space in one of the capital’s prime markets for urban distribution and light industrial activities. It is a significant development and, it is hoped, will act as a catalyst to bring new investment, jobs and growth to West London. The development forms part of SEGRO’s wider strategy to utilise its land bank to grow business in its core markets.
The 22 acre prime site will be developed in two phases with Phase 1 delivering three units, all with secure yards, of 36,360 sq ft, 53,150 sq ft and 68,690 sq ft and is due for completion in November 2014. Phase 2 will accommodate up to 303,000 sq ft in a range of units, and is being marketed on a pre-let basis.
Alan Holland, SEGRO’s Business Unit Director for Greater London, said: “We see Origin as directly addressing the shortage of available, brand new, high quality warehouse accommodation in Park Royal, and we’re not only confident about occupier interest in the development, but also about its significance as a magnet to attract new businesses to the area, and its role in promoting local growth and employment opportunities”.
During the ground-breaking ceremony, SEGRO also launched a Time Capsule Challenge for local schools, inviting them to suggest objects for inclusion that symbolize their affection for the local area.