Arrow Capital Partners has completed the acquisition of a vacant plot in a last-mile logistics location in London. The asset is a 1.63-acre vacant plot of land in Beckton, East London with existing full planning approval to build a 37,000ft² urban logistics unit. Arrow will fund construction with completion expected in the first quarter of 2022. The site’s location, with easy access to the A13 and less than 5 miles from the City of London, will provide a premier asset in an area with low supply and growing demand for logistics space.
Arrow has acquired the site for its €3bn Strategic Industrial Real Estate (SIRE) platform, which invests in strategic industrial and logistics assets across Europe, a partnership between Cerberus and Arrow. Rob Howe, Head of European Real Estate at Arrow, said: “Arrow is delighted to have acquired this prominent site on behalf of SIRE which is just a few miles from Central London. This new Grade A development complements our urban logistics holdings and provides exposure to the dynamic Greater London market. SIRE is excited about the letting prospects for this unit and our development partner, Hathaway Developments, is already talking to a number of interested institutional-grade tenants. We are actively seeking more opportunities like this across our business.”