Chancerygate and Bridges Fund Management have started construction on a new speculative 69,800 sq ft Grade A urban logistics scheme in Tolworth, south west London.
Called Metroplex Park, the scheme is located on a 2.8-acre site in Red Lion Business Park. The scheme has a gross development value of £30m and will comprise nine highly sustainable units ranging from 4,450 sq ft to 18,100 sq ft available on a leasehold basis.
Planning for Metroplex Park was granted in April 2023 and the development is being built by London-based contractor Harmonix Construction with practical completion due in summer 2024.
Located near Tolworth Hospital and the A3 Kingston Bypass, the site benefits from excellent access to Kingston upon Thames and central London. It is eight miles from junction 10 of the M25, seven miles from Leatherhead and 12 miles from Croydon and Heathrow.
All units at Metroplex Park will be fitted with active and passive electric vehicle charging points and solar cells on their roofs which will provide green energy on an affordable basis to occupiers.
These features will support the development’s goal of achieving a BREEAM rating of Excellent and EPC A+ as well as being Net Zero Carbon for regulated energy.
In addition, the accommodation is being constructed from high-performance building materials to reduce CO2 emissions and occupier operation costs.
Chancerygate development manager, Matthew Young, said: “There is strong occupier demand for our high quality, sustainable accommodation due to a record low supply in Tolworth and the surrounding areas of Kingston, Surbiton and Chessington.
“Metroplex Park marks Chancerygate’s third scheme on the Red Lion Business Park. We know this is a prime location to ensure businesses are best placed to serve the local area and the wider London city region.
“We now look forward to practical completion and delivering much-needed Grade A urban logistics units into the market.”
Henry Pepper, partner at specialist sustainability and impact investor Bridges Fund Management, added: “We are pleased to be working with our longstanding partner Chancerygate on progressing the delivery of another highly sustainable last-mile industrial scheme – targeting ratings of EPC A+, BREEAM Excellent, and Net Zero Carbon for regulated energy – and making these plans a reality.
“With current levels of under-supply in the south west London market, Metroplex Park is intended to become a key site in serving occupier needs and supporting the economy of the local and surrounding areas.”
Chancerygate and Bridges have been working in partnership on projects for more than 10 years. Investments include the acquisitions of sites for industrial development in Leeds and Coventry; the regeneration of Beeston Business Park, Nottingham; and the development of ‘The Curve’, a student housing development in London SE1.
Agents for Metroplex Park are JLL and Bonsors.
