HBD and Barings secure planning for 400,000ft2 London logistics scheme
Developer HBD and real estate investment manager Barings, have secured detailed planning for a 20-acre strategic logistics scheme in Rainham, London.
The new development, on a brownfield site, will be known as Momentum London, and is being delivered by HBD and Barings in a joint venture partnership. It will create 381,814ft2 of new logistics and industrial space across four units ranging from 41,000ft2 -171,000ft2.
The scheme will target Net Zero Carbon, BREEAM “Excellent” and an EPC “A+” rating. This is being achieved by dynamic design, careful consideration of materials, zero use of fossil fuels, maximising photovoltaic solar panels, battery storage and intelligent building systems. The units will be 100% EV ready, including passive fleet charging to the yards.
The logistics park will be set in landscaped environment with picnic and public areas, as well as direct access onto the Thames Cycle Path, so that it brings further social benefits to the area.
Simon Quine, Senior Development Surveyor at HBD, said: “Industrial and logistics space remains in very limited supply across London, particularly larger distribution units. Momentum will plug that gap within the M25 and provide modern, sustainable logistics and distribution space to serve London and the wider South East market.
“Landscaping and wellness have been thoroughly considered, with careful design considerations and enhancements to the Thames Foot and Cycle path, which we hope will help occupiers to attract and retain staff.”
Darren Hutchinson, Head of UK Real Estate Transactions and Managing Director at Barings said: “Logistics is one of Barings’ preferred investment sectors and Momentum London exemplifies the kind of developments we’re seeking, with a keen interest in exploring joint ventures like this one with HBD.”
The JV will start on site in October 2022 with the units available for occupation from late 2023.
Letting agents on the scheme are CBRE, Montagu Evans and Glenny.