Kennedy Wilson has acquired the circa £100m GDV Bromley-by-Bow Industrial Park development site in East London from Fabrix.
The 4.7-acre site was assembled and masterplanned by Fabrix following a series of land purchases that took place over several years.
In September 2024, Fabrix secured planning consent to deliver a 135,000 sq ft ultra-urban industrial scheme on the site.
The proposals comprise a new build central block featuring 10 industrial units arranged in two linear terraces around a central yard and a re-purposed small brick MOT warehouse building designated for use as the Affordable Workspace & Circular Economy Hub, offering 11,976 sq m (circa 129,000 sq ft) of floorspace.
Fabrix will retain a role as a consultant for Kennedy Wilson during the initial stages of development to drive forward ESG and community initiatives through the partnerships it has formed with local organisations.
Mike Pegler, president of Kennedy Wilson Europe, said: ”This transaction represented a rare opportunity to acquire a highly desirable industrial scheme in a location with strong underlying fundamentals. We are always looking for opportunities to invest capital into industrial assets in thriving urban locations and this is particularly attractive where schemes, such as Bromley-by-Bow, will offer leading sustainability credentials to its future occupants.”
Louis Duffield, partner and head of investment at Fabrix, added: “Fabrix’s consented scheme for the regeneration of Bromley-by-Bow Industrial Park is a project that will deliver super prime-quality space for ultra urban industrial and logistics uses, and secure genuine benefits for the community in Tower Hamlets. Kennedy Wilson’s purchase of the site will not only realise the value created by this vision, but also means that Fabrix can advance with our plan to rationalise our activity around the living and office sectors, marking an exciting new phase of work.
“Fabrix developed this project over many years of relationship building with the community and stakeholders, and we look forward to collaborating with Kennedy Wilson in a consultant role to drive forward ESG and community initiatives.”
