SEGRO has acquired off-market a 1.7-acre site in Stratford, East London from a private seller for an undisclosed fee.
The site will be transformed into 45,000 sq ft of modern, highly sustainable warehousing, according to a statement by SEGRO.
To be known as SEGRO Park Stratford, the ultra-urban site is located on the Fish Island industrial estate and benefits from direct access to the A12 junction.
It sits within zone 2, close to the residential district of Hackney Wick which has undergone significant regeneration since the London 2012 Olympic games.
The long-term demographics will create significant demand for goods and services within the immediate vicinity of the site, as well as Canary Wharf which is just two miles away, the company said.
“This off-market acquisition is in line with our strategy to build scale and a customer offering in ultra-urban locations in Greater London which offer substantial long term growth prospects,” said Alan Holland, Managing Director, Greater London, SEGRO.
“We know there is significant demand for urban warehousing close to large population centres. SEGRO Park Stratford will not only provide sustainable space that helps enable a low-carbon ecosystem for the delivery of goods and services to a large number of people, it will bring further important employment opportunities to this vibrant part of the capital,” he added.