Construction to start on East London last-mile logistics scheme
Real estate investment and asset management company Valor Real Estate Partners is to develop “four brand-new Grade A speculative warehouse units” in Beckton, East London.
Valor has appointed Glencar Construction for the project, which will see a total of 223,230ft² in warehousing space developed. Units range in size from 27,223 to 81,842ft².
Glencar’s Managing Director for London and the South, Roy Jones, said: “We are absolutely delighted to once again be working with much valued repeat customer Valor Real Estate Partners after having completed a number of other projects during the past 18 months at strategic development sites in Beckton and Croydon.
“The team is looking forward to once again be getting on site having previously completed two speculative warehouses on Gemini Business Park. The warehouses will be highly energy-efficient and targeting an EPC ‘A-5’ or better and BREEAM ‘Excellent’ rating. The units will include ESG credentials such as EV charging stations, LED lighting, Green Roofs, and PV roof panels.”
In April 2022, Valor spent £23 million on acquiring three urban logistics assets in London, including the two units on Gemini Business Park in Beckton that Jones referenced.
Speaking on the new project in Beckton, Max Freeman, Senior Vice President at Valor Real Estate Partners, added: “This project brings to market four highly functional units, which benefit from Valor’s latest specification and enhanced sustainability credentials, in a prime last-mile location just of the A13. We have no doubt Glencar will be able to deliver on this flagship project for us and we are very much looking forward to the next 12 months of construction ahead.”
Construction of the four units is expected to complete in December 2024.