By Liza Helps, Property Editor, Logistics Matters

THE DEVELOPMENT with a £110 million GDV on completion, will be built on a circa 10-acre site off Lieutenant Ellis Way. It will consist 13 units ranging from 6,500 ft2 to 28,500 ft2 targeting EPC A+ and BREEAM Outstanding ratings. The site is adjacent to the A10 and less than a mile from Junction 25 of the M25 motorway

Subject to planning, construction is expected to commence at the end of the first quarter of 2027, with practical completion anticipated in the first quarter of 2028.

In addition to targeting best-in-class sustainability credentials, the development will also be designed to align with EU Taxonomy requirements, targeting Article 9 objectives.

Article 9 of the EU Taxonomy Regulation defines the six core environmental objectives that an economic activity must support to be classified as environmentally sustainable. These include:

• climate change mitigation – Reducing greenhouse gas emissions or keeping global warming in check.
• climate change adaptation – Reducing or managing the risks posed by climate change.
• sustainable use and protection of water and marine resources – Protecting water health and improving water efficiency.
• transition to a circular economy – Eliminating waste, keeping materials in use, and recycling.
• pollution prevention and control – Reducing air, water, or land pollution.
• protection and restoration of biodiversity and ecosystems – Protecting healthy habitats and natural landscapes.

The development is expected to create around 110 jobs during construction and support 295 permanent jobs once complete.

In June, the developer submitted plans for a £120m, 245,000 ft2 Grade A urban MLI and logistics development in Elstree, Hertfordshire.

M1 Agency and Simmons & Simmons advised Padrock on the acquisition of the site.