Urban logistics scheme planned for Leyton
Logistics developer, investor and asset manager Padrock has bought a site in Leyton, East London to develop a 210,000 ft2 speculative urban multi-let logistics development.
By Liza Helps, Property Editor, Logistics Matters
THE SCHEME to be known as Leyton Logistics Hub, will comprise 11 units ranging from 6,000 to 36,000 ft2 all of which will target EPC A+ and BREEAM Outstanding ratings. Once complete, the development will have a gross development value of around £130 million.
Detailed planning consent is already secured with construction expected to commence imminently and practical completion anticipated mid-2026.
The site located off Church Road within the A406 North Circular Road, and in close proximity to the A12, was sold by pan-European real estate private equity specialist PineBridge Benson Elliot which originally bought the eight acre former Percy Ingle bakery site in 2022 with its joint venture partner Evo Industrial for £48 million. PBBE/Evo Industrial secured planning permission for the site in 2023.
Padrock believes this to be one of the largest urban MLI and logistics sites to have been acquired in London this year. It has several other schemes in the UK including its 173,379 ft2 Dagenham Logistics Hub with units from 6,546 to 34,826 ft2, its 194,971 ft2 Hertford Logistics Hub with 16 units from 4,439 to 38,470 ft2 which could be combined to provide units up to 119,987 ft2 and its 71,532 ft2 self contained midbox unit known as Erith Logistics Hub
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.”
Glenny, M1 Agency and Simmons & Simmons acted on the transaction.
