Fourth urban logistics site in four months for US developer investor
The 2.6-acre site on Factory Lane, Croydon, has been acquired from a private investor and will be redeveloped to provide a speculatively built 62,000ft2 industrial/warehouse to serve the last-mile logistics sector. Planning for the scheme – to be known as Bridge Point Croydon (BPC) – will be submitted towards the end of 2021.
“This Greater London site, our fourth site acquisition in just four months, is perfectly positioned to fit with our strategy of acquiring and developing high quality, purpose-built infill industrial assets to serve the last-mile logistics sector,” said Paul Hanley, Bridge’s London Partner.
Bridge was represented by Fidu Property in the transaction. DTRE and Colliers will be appointed as joint retained letting agents for BPC.
Bridge Industrial launched its UK operations in November 2020. In May, Bridge announced its first acquisition in North West London, Bridge Point Southall, followed by two further acquisitions in Barking and Uxbridge in July of this year.