Plans have been submitted to speculatively build 95,000 sq ft of Grade A urban logistics space on a four-acre site on Factory Lane in Croydon, South London.
A joint venture (JV) between developer Chancerygate and SGN Place, the property development subsidiary of gas distribution company SGN, intends to develop a scheme comprising 14 units ranging from 1,000 sq ft to 17,000 sq ft. All units will be available on a leasehold basis.
Located on the outskirts of Croydon town centre, the Factory Lane site is 10 miles south of central London and provides good access to the A23, A232 and M25. Neighbouring occupiers include a Tesco distribution centre, Sainsbury’s, Royal Mail and Decathlon.
Subject to planning approval from Croydon Council, work on the proposed development is anticipated to commence in January 2023 and will be ready for occupation at the end of next year.
Chancerygate development director, Jonathan Lee, said: “We are very pleased to have submitted our first joint planning application as part of our JV with SGN Place.
“This is a hugely exciting opportunity to deliver the first leasehold multi-unit urban logistics site in Croydon for more than 10 years.
“There is very strong demand for high specification, new build urban logistics space in the town and the development has been designed to provide best-in-class last mile facilities with the highest ESG credentials.
“Subject to planning, we look forward to working with our partner SGN Place to revitalise the site and create an enduring and sustainable asset for Croydon. We anticipate the development will enable the creation of more than 250 jobs providing further economic benefit for the town.”
Founded in 1995, Chancerygate is the UK’s largest multi-unit industrial developer and asset manager and the only one operating nationwide.
The company currently has more than 3.5m sq ft of industrial space under construction or ready for development across 32 sites ranging from Bournemouth to Edinburgh. In addition to London, Chancerygate has offices in Warrington, Birmingham, Bristol and Milton Keynes.
SGN Place is a property development subsidiary of SGN, focused on regenerating brownfield land like gasholders and former industrial sites into prosperous, sustainable residential and commercial developments.
Cushman & Wakefield and Stiles Harold Williams will be the retained agents on the development.
