SEGRO announced that it is to develop 92,780 ft² (approx. 8,620 m²) on a speculative basis at phase two of Stockley Close in West London.
Stockley Close is a SEGRO-owned multi-let industrial estate located on the A408 which leads directly to Junction 4 of the M4 and it is just two miles from Heathrow Airport.
The existing estate currently totals 98,470 ft² and is fully let to customers such as Rymans, UTi Worldwide (UK) Limited, Transport for London and MNX Global Logistics. The new speculative development is being built on land adjacent to the existing estate and which forms part of SEGRO's well-located landbank.
The development will comprise three highly specified industrial units of 26,420 ft², 29,870 ft² and 36,490 ft², all with secure yards, and it will be constructed to a BREEAM 'Excellent' rating. The units will be suitable for a wide range of occupiers including businesses involved with urban distribution, logistics, advanced engineering and light industrial uses.
Alan Holland, SEGRO's Business Unit Director for Greater London, said: "The shortage of suitable, well-located modern warehouses in our core markets, combined with the increased demand we are seeing for urban, regional and national distribution space, is driving requirements for newly-developed space. Stockley Close is ideally located to meet this demand, delivering the right space in the right location. Situated just two miles to the north of Heathrow it is a highly attractive location both for businesses which service contracts at Heathrow as well as those which seek easy access to the surrounding motorway network."
Construction at Stockley Close will start in April 2014 and is scheduled for completion in November 2014.