Padrock has acquired an eight-acre industrial and logistics development site in Leyton, East London, for an undisclosed price.
The developer intends to build a 210,000 sq ft urban multi-let I&L scheme on the site called Leyton Logistics Hub.
The circa £130m GDV development will comprise 11 units ranging from 6,000 sq ft to 36,000 sq ft. Padrock is targeting EPC A+ and BREEAM Outstanding ratings for the units.
Detailed planning consent is already secured for the development and construction is expected to commence imminently with practical completion anticipated in mid-2026.
Mark Symonds, partner at Padrock, said: “This latest acquisition reinforces our commitment to the London multi-let market and reflects Padrock’s ambition to become a leading provider of high-quality, flexible industrial space in urban submarkets.”
Glenny, M1 Agency and Simmons & Simmons acted on the transaction.
