Developer Chancerygate and specialist sustainable and impact investor Bridges Fund Management have been granted planning to speculatively build a highly sustainable 90,000 sq ft Grade A urban logistics development in Hayes, west London.
Called Harlequin Business Park, once complete the scheme will comprise nine units ranging from 5,100 sq ft to 39,700 sq ft and has a projected gross development value of around £40m.
Units on the 3.7-acre site, which is located on Southall Lane, will be available on a leasehold basis. Construction work is due to start in April 2024 after the demolition of the existing office buildings currently on the site.
Harlequin Industrial Park will sit in an established industrial location with Beaver Industrial Estate, International Trading Estate and Western International Market all nearby. The development benefits from excellent road connectivity and is less than one mile from junction three of the M4 motorway and four miles from the A40.
All properties at the development will target a minimum EPC rating of A+ and a BREEAM Excellent rating. They will feature electric vehicle charging points along with solar cells which provide occupiers with affordable green energy.
In addition, the units will be constructed from high-performance building materials to reduce CO2 emissions.
Chancerygate development director, Tom Faulkner, said: “There is a shortage of high specification, sustainable Grade A urban logistics accommodation within Hayes and the Greater London area, particularly for SMEs.
“Harlequin Business Park is going to be a premier site with major infrastructure links which will help satisfy this demand while also creating up to 150 new jobs.
“Our development will deliver an enduring economic asset for Hayes and ensure occupiers are best placed to grow their businesses by being based in an excellent strategic location.”
Founded in 1995, Chancerygate is the UK’s largest urban logistics property developer and asset manager with offices in London, Birmingham, Bristol and Warrington.
The company currently has more than 2.65m sq ft of industrial space under construction or ready for development across 19 sites ranging from Edinburgh to Chichester.
Bridges is a specialist sustainable and impact investor. Its property funds focus on sectors that are well placed to benefit from the transition to a more sustainable and inclusive economy, including healthcare, lower-cost housing and sustainable logistics.
Henry Pepper, partner at Bridges, said: “We’re delighted to be working with Chancerygate on this prime west London redevelopment of a redundant brownfield site. Our goal is to deliver much-needed urban logistics units with best-in-class sustainability credentials, which will support new jobs and boost the local economy.”
Agents for Harlequin Business Park are JLL and Colliers.
