Aviva Investors has completed the forward purchase of the Orpington Gateway development in South East London for a gross development value of €57m (£50m). The development, which features 150,000ft² of 14 multi-let trade and industrial development units of between 4,176ft² and 33,565ft², uses energy-saving technologies with the aim of reducing carbon emissions by up to 35%. Set across a 5.9-acre site, the development is 25% pre-let with construction scheduled to complete in June 2019. The company was advised by Montagu Evans.
Richard Moore, Asset Manager, Aviva Investors, said: “Located in a significant commercial area for trade, retail and distribution, this is a prime trade and logistics asset in an affluent inner-M25 location, offering our investors strong potential returns. With frontage directly onto one of the major thoroughfares, the development is an attractive asset in a core location and sits well with our real estate strategy for large, high-quality assets in robust economic locations.”
