The first phase of the LOC8 mixed-use business park development in Maidstone is now more than three quarters let following the completion of a series of leasing deals.
Clearbell Capital LLP purchased the site, which is located at junction eight of the M20, in 2019 for its Clearbell Property Partners III LP fund to meet growing occupier demand for industrial and logistics space.
The first phase provides 245,000 sq ft of space across 11 warehouse units ranging from 5,000 sq ft to 60,000 sq ft. Following leasing deals to occupiers including Hitachi Construction Machinery UK, UK Greentech and Zehnder, just one unit – the 58,800 sq ft Unit B4 – is available.
The second phase of the project will see an additional 200,000 sq ft of space delivered with completion targeted for summer 2024. All of the buildings at LOC8 have achieved BREEAM Very Good and an EPC A or A+ rating.
Rob West, managing partner at Clearbell, said: “We continue to respond to business’ needs by developing logistics and industrial sites that are at the vanguard of sustainability. LOC8 was designed to be highly energy efficient with the goal of helping businesses to future proof, and we are seeing strong occupational demand as a result. At the same time, we have taken steps to improve transport links to the site, which will closely connect occupiers to the UK and global markets. Phase two will only build further on this ambition.”
Clearbell was advised by CBRE and Caxtons.
