CBRE Investment Management (CBRE IM) and Chancerygate have started work on a new 93,000ft² Grade A urban logistics development on Croydon’s Factory Lane.
The development will comprise 15 leasehold units ranging from 2,000ft² to 16,000ft² with the option to combine units and is being delivered by Chancerygate and CBRE IM on behalf of a fund sponsored by the firm.
The partnership reports that all properties at the development will feature electric vehicle charging points along with solar cells which provide green energy on an affordable basis to occupiers.
The scheme is targeting a BREEAM accreditation of ‘Excellent’ and for all units to achieve an EPC ‘A+’ rating as a minimum.
Chancerygate development director Tom Faulkner said: “There’s strong demand for high quality, sustainable urban logistics accommodation within Croydon and the South London area.
“The Works is the first multi-unit urban logistics scheme to developed in Croydon for 10 years targeting SMEs and will help satisfy this demand while allowing occupiers to benefit from its close proximity to key infrastructure links.
“It is also a strong example of how we are turning a disused brownfield site in an established industrial location to new employment land, creating local job opportunities and stimulating regional growth.
“We now look forward to practical completion and delivering much-needed Grade A urban logistics units into the market and a lasting economic asset for Croydon.”
