SEGRO Park Wapping receives green light as next generation central urban logistics scheme in London
SEGRO Park Wapping will deliver 95,000 sq ft of flexible employment space, as part of a state-of-the-art development on a brownfield site in Wapping. With an unparalleled central location within 1.5 miles of the City of London, it will help meet the growing demand for high quality, sustainable space in the Capital.
The development represents a new chapter in Wapping’s rich industrial heritage, with SEGRO working in partnership with Tower Hamlets and the local community to provide much needed investment into this part of East London, supporting over 150 jobs and acting as a catalyst to inspire enterprise, employment and growth.
The development cements SEGRO’s position as one of London’s leading developers of industrial workspace, with 62 estates and a portfolio of over 15 million sq ft in prime locations, with more than 740,000 sq ft of space within Zone 2.
SEGRO Park Wapping is a regeneration scheme that represents the first of a new wave of inner urban logistics facilities. New developments are also in the pipeline in strategic locations including Hackney Wick, New Cross and Clapham North.
Included in SEGRO’s London customer base of over 450 companies are Amazon, British Airways, DHL, Tesco, Royal Mail and Ocado.
Work is expected to begin shortly on SEGRO Park Wapping, which will be developed speculatively with demolition commencing towards the end of the year.
Bonnie Minshull, Head of London at SEGRO, said:
“The flight to quality trend continues to accelerate, with occupiers becoming increasingly particular with their demands for flexible, efficient and green workspace in central urban locations, in the heart of the economies and communities they serve.
“SEGRO Park Wapping is our next generation of inner urban warehousing, raising the bar on sustainability and innovation, and being designed to complement a modern city environment in a high-demand central London location.”
SEGRO Park Wapping comprises seven units ranging in size from 10,000 to 18,000 sq ft, spread over two terraces. In line with the company’s Responsible SEGRO commitment to Champion low-carbon growth, the development will target EPC A+ and BREEAM “Excellent” rating, and will feature photovoltaic panels on the roof to generate renewable energy for occupiers.
About SEGRO
SEGRO is a UK Real Estate Investment Trust (REIT), listed on the London Stock Exchange and Euronext Paris, and is a leading owner, manager and developer of modern warehouses and industrial property. It owns or manages 10.4 million square metres of space (112 million square feet) valued at £20.7 billion serving customers from a wide range of industry sectors. Its properties are located in and around major cities and at key transportation hubs in the UK and in seven other European countries.
For over 100 years SEGRO has been creating the space that enables extraordinary things to happen. From modern big box warehouses, used primarily for regional, national and international distribution hubs, to urban warehousing located close to major population centres and business districts, it provides high-quality assets that allow its customers to thrive.
A commitment to be a force for societal and environmental good is integral to SEGRO’s purpose and strategy. Its Responsible SEGRO framework focuses on three long-term priorities where the company believes it can make the greatest impact: Championing low-carbon growth, Investing in local communities and environments and Nurturing talent.
See www.SEGRO.com for further information.