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17.08.2017

Bexley gives green light to £15m shed

Planning permission has been granted by Bexley Council for a £15m new development on Axion Park in Belvedere, South East London.

Acting on behalf of leading warehouse developer Wrenbridge and Buccleuch Property, Glenny has been appointed alongside CBRE to market the 68,072 sq ft unit.

The Grade A warehouse is located at the entrance to one of South East London’s most established industrial locations, ideal for both regional and urban distribution.

Neil Finnie, of Buccleuch Property, said: “We are delighted that the grant of planning consent will allow us to start construction on site. Delivery of the building will help address an acute shortage of high quality industrial accommodation in the area.”

Ewen McLeod, of Wrenbridge, said: “We remain encouraged by the level of occupational demand and the value Belvedere offers as a location. The building will be available on either a freehold or leasehold basis and we are in the final stages of selecting a contractor to start onsite this Autumn.”

Richard Seton-Clements, Glenny’s Divisional Partner for the region said: “Axion will further anchor Belvedere as one of South East London’s prime industrial and distribution locations, with neighbours including Amazon, Ocado, Asda, Tesco and Lidl.

“Its prominence, duel yards, and high quality specification, on a self-contained site will ensure keen interest, with the occupier also able to benefit from access to a large local labour pool and lower business rates. Glenny is also able to offer the freehold, a rarity in this market which we anticipate will be of interest to occupiers looking for occupational certainty in a rising rental market.”

This is the third Wrenbridge scheme Glenny has worked on in Belvedere, following the recent completion of Graviton, which was let to Amazon, and Criterion, now sold to Rockspring and due for completion in September. Works on the Axion site are due to commence in September, with completion expected in Q2 2018.

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Bexley gives green light to £15m shed