Multilet logistics scheme for Elstree
Specialist logistics developer Padrock has snapped up a 17.22-acre site in Elstree, Borehamwood, with outline consent to build a circa.245,000 ft2 multi-let industrial logistics scheme.
By Liza Helps, Property Editor, Logistics Matters
THE DEVELOPMENT will comprise four buildings split into 13 units ranging from 10,500 ft2 to 130,000 ft2 and will have a grosso development value of some £120 million. A reserved matters ppalication is due to be submitted to Hertsmere Council shortly with construction set for Q3 2026.
It is located south of and adjacent to Aldenham Reservoir in Elstree, and is approached via the A411 Watford Road, which leads from the A41 North Western avenue. The site is most readily accessed from Junction5 of the M1 motorway.
Padrock partner Mark Symonds, said: “This acquisition marks another step forward in our strategy to expand within London’s multi-let industrial market and become a leading provider of high quality, flexible space in key urban locations. Elstree is strategic location, close to central London and major transport routes, making it attractive to logistics, trade and light industrial businesses seeking efficient access across the capital. Our development will deliver a multi-unit scheme which will meet the requirements of modern day occupiers, through providing high specification, sustainable accommodation.”
M1 Agency, Lambert Smith Hampton and Simmons & Simmons advised Padrock while the vendor Liberty Aldenham was advised by JLL.
