Royal London Asset Management Property has secured planning consent for a £100m GDV two-storey industrial scheme at Capitol Way in Colindale.
The company has appointed NEAT Developments as development manager on the 235,000 sq ft scheme, which represents a 125% uplift in floorspace compared with the single-storey warehouse that sits on the site.
All of the units will have their own loading and parking provision and the ground floor units benefit from a covered service yard. Units can be subdivided or combined to suit a range of industrial, logistics and light manufacturing uses.
Royal London is targeting biodiversity net gain of 76% in addition to BREEAM Excellent and EPC A ratings.
Joseph Kane, senior development manager at Royal London Asset Management Property, said: “The planning approval for our multi-level industrial project at Capitol Way marks a significant step forward. This development responds to the urgent need for well-designed urban logistics space while respecting the local context of Brent. By building upwards rather than outwards, we are addressing the practical challenges of land scarcity while creating spaces that genuinely work for modern businesses.
“This scheme aligns with Royal London Asset Management’s strategic focus on delivering high-quality, sustainable assets that provide long-term value. We believe projects like this demonstrate how thoughtful industrial development can support both commercial objectives and broader community economic needs.”
Youssef Kadiri, managing director at NEAT Developments, added: “We are proud to be working with Royal London to deliver this multi-level industrial development in a strategically well-connected industrial location. The design combines an institutional-grade product, market-leading ESG credentials, and flexible, functional layouts over two floors, providing frontage and a clear identity for every occupier. We look forward to launching the development to the market soon.”
Construction is scheduled to commence in 2026 with practical completion anticipated in 2027.
