Urban warehouse scheme for Elstree
Specialist logistics developer Padrock has submitted plans to speculatively develop a 245,000 ft2 Grade A urban multi-let industrial (MLI) and logistics development in Elstree, Hertfordshire.
By Liza Helps, Property Editor, Logistics Matters
THE PROPOSALS envision 13 units ranging from 10,500 ft2 to 130,000 ft2 on a 17-acre brownfield site acquired by Padrock in March this year adjacent to the established Centennial Park business estate in Elstree.
The scheme will target BREEAM Outstanding and EPC A+ ratings, plus alignment with EU Taxonomy objectives and will have a gross development value of around £120 million. Subject to planning, construction is anticipated to commence in Autumn, with practical completion expected in late 2027.
Padrock founding partner, Mark Symonds, said: “Our plans will provide Elstree with a highly sustainable economic asset that will help satisfy the latent demand in the region for high-specification, new-build urban MLI accommodation.”
The company has around 1 million ft2 of Grade A MLI and logistics accommodation under construction or ready for development with a combined gross development value of £500 million.
