With steel frames completed for the first 100,000 sq. ft of Momentum, work is on track to deliver the landmark green industrial scheme in London in Q4 2023.
Barings is delivering the best-in-class asset in a joint venture with HBD and on behalf of Barings Real Estate European Value-Add Fund II (BREEVA II).
Momentum is one of the UK’s most sustainable industrial schemes, creating 380,000 sq. ft. carbon neutral, BREEAM Excellent space on the banks of the River Thames in Rainham, East London.
It is the first major milestone at the development, which will provide space from 41,126 to 171,406 sq. ft. across four units.
A highly sustainable development, Momentum has been designed to achieve the highest possible efficiency ratings and encompasses next-generation technology. All four units will have an EPC A-plus rating, with renewable technology including extensive solar panels, intelligent building systems and EV charging facilities.
Wellness is also a major focus at the best-in-class scheme, with a range of amenities for occupiers and extensive landscaped grounds to include picnic areas set among 225 new trees, hedgerows and other greenery plus landscape buffers to boost biodiversity and protect the local wildlife.
Adrian Schofield, Senior Director and Head of Region at HBD, said: “Momentum is a next-generation sustainable industrial scheme so it’s a really exciting project for us to deliver – it’s great to reach this first major milestone for the development and to see it beginning to take shape.
“We’ve seen strong interest in Momentum given its environmental credentials, excellent location and the growing focus on ESG; businesses are keen to future-proof their operations and ensure that their building is able to support their environmental objectives. Momentum ticks all of the boxes.”
Paul Smith, Director, UK Real Estate Asset Management, at Barings, said: “On completion, Momentum will provide a benchmark against which best-in-class industrial assets will be compared. Net zero in construction and with an innovative energy strategy that offers tenants immediate operational savings, alongside attractive landscaping and river views for the office space, it will demonstrate how logistics can be done differently. Grade A logistics assets in our target markets, which includes the UK, remain a key priority for Barings and we’re proud to work alongside HBD in developing such a first-class product for our portfolio.”
The 20-acre scheme sits adjacent to the Thames, with links to the Thames Cycle Path as well as access to Coldharbour Jetty.
Momentum is expected to complete in Q4 2023.
Part of the Henry Boot Group of companies, HBD is an award-winning developer working from six regional offices across the UK. Its £1.25bn development pipeline focuses on urban regeneration, industrial and logistics and residential projects.
Barings Real Estate is one of the world’s largest diversified real estate investment managers. It offers a broad range of global investment opportunities across the private debt and equity investment markets and invests in all major property sectors.
