UK Real Estate Investment Trust (REIT) SEGRO has acquired eight acres of land ito develop a new urban logistics property up to 185,000 sq ft in Tottenham, North London.
The land has been purchased close to White Hart Lane for an undisclosed sum. SEGRO will deliver a mix of high-quality, modern industrial units, subject to planning consent, and will consider both speculative and pre-let development opportunities.
The site benefits from excellent road connectivity via the A406, and on completion the development will be one of SEGRO’s closest assets to Central London
Alan Holland, Business Unit Director, Greater London, at SEGRO said:
“At a time when industrial land in London is diminishing, this site offers a rare opportunity to deliver a modern urban logistics hub in a well-connected, zone-3 location, inside the North Circular.
“Our ambition is to develop modern, high specification industrial units at a range of sizes which will complement our existing North London portfolio and capitalise on demand from a broad range of customer sectors, including online retailers and last mile operators.
“We’re very pleased to complete this off-market transaction and look forward to working with London Borough of Haringey and the local community to advance our plans.”
SEGRO, a UK Real Estate Investment Trust (REIT), owns and manages a £3.8 billion portfolio of industrial assets in London, including SEGRO Park Enfield and Navigation Park in Enfield and the 2 million sq ft Park Royal estate in West London. The company is also the Greater London Authority’s selected partner to deliver East Plus, comprising 1.4 million sq ft of industrial space across 86 acres of former brownfield land in East London