SEGRO is to begin speculative development of an extension to Stockley Close near Heathrow.
This follows work starting on the Origin site in Park Royal. SEGRO say this overall level of activity reflects their strategy to develop in locations where it is confident about levels of occupier demand.
Stockley Close currently totals 98,470 sq ft and is fully let to customers such as Rymans, UTi Worldwide (UK) Limited, Transport for London and MNX Global Logistics. The new speculative development is being built on land adjacent to the existing estate, part of SEGRO’s landbank.
The development will include three industrial units of 26,420 sq ft, 29,870 sq ft and 36,490 sq ft, all with secure yards, and will be constructed to a BREEAM ‘Excellent’ rating. The units are aimed at a wide range of occupiers including those in urban distribution, logistics, advanced engineering and light industrial.
Construction at Stockley Close will start in April 2014 and is scheduled for completion in November 2014.
Alan Holland, SEGRO’s Business Unit Director for Greater London, said: “The shortage of suitable, well-located modern warehouses in our core markets, combined with the increased demand we are seeing for urban, regional and national distribution space, is driving requirements for newly-developed space.”