Property developer and asset manager Chancerygate has announced that it has achieved practical completion on two urban logistics developments in Greater London, providing a combined total of 242,300ft² of Grade A urban logistics space.
The first, Metroplex Park, is located in Tolworth in South West London. Offering a total of 70,300ft² of urban logistics space, this development comprises nine ‘highly sustainable’ leasehold units ranging from 4,490ft² to 18,110ft² in size.
The second is Dagenham Logistics Hub, a 172,000ft² development in East London comprising 14 units. This development was delivered in a joint project with a fund managed by Credit Suisse Asset Management – a UBS Group company – and global real estate investor, developer and manager Hines. The scheme was forward sold to investment manager Padrock for an undisclosed sum in June 2022.
Both Metroplex Park and Dagenham Logistics Hub have achieved BREEAM ‘Excellent’ certification and an EPC ‘A+’ rating. They are also targeting being net zero carbon for regulated energy schemes.
Chancerygate’s managing director, Richard Bains, said: “We’re very pleased to have achieved practical completion on these developments. Both Metroplex Park and Dagenham Logistics Hub sit in areas where there is strong demand for new, high-quality, sustainable urban logistics accommodation.
“Both of these developments will help satisfy this demand and provide long term economic assets for their respective localities.”
