Glenny LLP has been appointed as joint agent on SEGRO Park Rainham Phase 2, a 108,000 sq. ft speculative development of five new units between 11,000 to 36,000 sq ft in East London.
Building on the success of the first phase, which has leased around 140,000 sq ft of space to occupiers including Mitsubishi Electric (who were advised by Glenny’s Business Space Lease Advisory team), MEP Hire and Babcock, with only final 70,558 sq ft unit remaining, the second phase responds to an increasing demand for high-quality industrial space in East London.
The development is targeting the WELL ‘Core’ accreditation and will be built with sustainability and productivity at the forefront, benefiting from smart building technology to satisfy a range of occupiers. Features include a green ‘living’ wall and communal green spaces to provide a natural environment in the breakout areas.
SEGRO Park Rainham sits within SEGRO’s wider East Plus regeneration scheme, which comprises 86 acres of brownfield land across Newham, Barking & Dagenham and Havering. East Plus is set to deliver 1.4m sq ft of modern industrial space over the next 10 years and is strategically located adjacent to the A13 and benefits from quick access to Central London and the M25. The Port of Tilbury and London Gateway are also only a short distance away.
Peter Higgins, Divisional Partner at Glenny, said: “This new phase of speculative development responds to high demand for quality industrial space in East London and has already proven popular with tenants within the initial phase. SEGRO Park Rainham will not only continue to meet this strong occupier need but will exceed expectations with a highly sustainable development that will fuel economic growth and support the ongoing regeneration of this growing, business community.”
Alan Holland, SEGRO’s business unit director Greater London, said: “The idea behind the East Plus partnership was to invest in creating high-quality, well-connected industrial space to attract successful companies into this part of London, helping drive growth, opportunity and regeneration in the process. Across all phases, we expect the scheme to create hundreds of employment opportunities for local people within a broad range of industry sectors.”
“We are particularly proud that SEGRO Park Rainham continues to push the boundaries of industrial development and innovation for our customers in East London. The leasing success to date, coupled with the growing interest for space in this prime location, means we can progress the next stage of delivery with confidence.”
Glenny is joint agent alongside Knight Frank and Lambert Smith Hampton.