Prologis has acquired a 24-acre development site in North London for an undisclosed price.
The site, which is located just off Junction 26 of the M25 to the south of Waltham Abbey, is allocated for employment use in Epping Forest District Council’s adopted local plan.
Master planning is under way and Prologis said it would engage closely with local stakeholders throughout the planning process to ensure the development brought long-term benefits to the local community.
Paul Weston, regional head at Prologis UK, said: “This acquisition underscores our conviction in the Greater London market. Waltham Abbey is already a well-established logistics location, and this site gives us the ability to bring forward sustainable, best-in-class space that supports our customers’ growth while creating employment opportunities and attracting investment for the local community.”
JLL acted for Prologis and ACRE Capital Real Estate acted for the vendor.
