Kennedy Wilson has purchased a strategic 1.9-hectare industrial development site in East London with planning consent for a sustainable urban industrial scheme.
Global real estate investment company Kennedy Wilson has acquired Bromley-by-Bow Industrial Park from Fabrix, securing one of London's most strategically located industrial development sites just 4.8 km from the City.
The 1.9-hectare site, which received planning consent in September 2024, will deliver approximately 12,540 m² of prime industrial space with a Gross Development Value of circa €117m. The scheme will comprise ten industrial units ranging from 600 m² to 1,800 m² arranged around a central yard, plus a repurposed brick MOT warehouse that will serve as an Affordable Workspace & Circular Economy Hub.
Mike Pegler, President, Kennedy Wilson Europe, commented: "This transaction represented a rare opportunity to acquire a highly desirable industrial scheme in a location with strong underlying fundamentals. We are always looking for opportunities to invest capital into industrial assets in thriving urban locations and this is particularly attractive where schemes, such as Bromley-by-Bow, will offer leading sustainability credentials to its future occupants."
Fabrix, which assembled the site through several land purchases and secured the planning consent that doubles the current space, will continue as a consultant to Kennedy Wilson during initial development stages to support ESG and community initiatives. The development will target EPC 'A' and BREEAM 'Excellent' ratings, making it particularly attractive to 'last mile' delivery operators. This acquisition expands Kennedy Wilson's UK industrial platform, which now totals nearly 836,000 m² and represents approximately €1.5bn of AUM.
Louis Duffield, Partner and Head of Investment at Fabrix, said: "Fabrix's consented scheme for the regeneration of Bromley-by-Bow Industrial Park is a project that will deliver super prime-quality space for ultra urban industrial and logistics uses, and secure genuine benefits for the community in Tower Hamlets. Kennedy Wilson's purchase of the site will not only realise the value created by this vision, but also means that Fabrix can advance with our plan to rationalise our activity around the living and office sectors, marking an exciting new phase of work. Fabrix developed this project over many years of relationship building with the community and stakeholders, and we look forward to collaborating with Kennedy Wilson in a consultant role to drive forward ESG and community initiatives."
Get the latest real estate news and investment insights from Europe Real Estate - your trusted source since 1999. To receive daily or weekly updates. Sign up here!
- Mike Pegler, President, Kennedy Wilson Europe
- Louis Duffield, Partner and Head of Investment, Fabrix
- Kennedy Wilson - Global real estate investment company
- Fabrix - Real estate company focusing on urban regeneration
