Savills IM, the international real estate investment manager, and First Industrial, the real estate development company, have committed to executing the first phase of a new project at Belvedere Wharf in Bexley, South East London.
The project, which will be undertaken on a speculative basis, signifies both companies’ belief in the strength of the South East Industrial market post-Brexit.
Having recently-secured planning consent for the project, construction is set to commence in January 2017 on an industrial/distribution warehouse unit totalling 8,051m², with practical completion due in September 2017. A further unit of 9,728m² is available on a build to suit basis.
The second phase of the project will result in the redevelopment of the adjacent 25-acre site to provide up to 60,387m² of industrial/distribtution space. An outline planning application is due to be submitted at the beginning of 2017.
Savills and Avison Young have been instructed as joint letting agents.
