Firethorn Trust has bought a last-mile logistics site development with a GDV of £52.2m in Rainham, east London, from Ryder.
The 4.3-acre site will offer a 97,000 sq ft speculative development, with works expected to begin in Q1 next year for completion in Q3 2023.
The deal marks Firethorn’s second foray into London’s logistics market after it acquired a four-acre site in Erith, south east London, earlier this year. Firethorn’s pipeline now exceeds 3.8m sq ft.
Dan Green, associate director at Firethorn Trust, said: “We know that there is strong occupational demand for last-mile developments in strategic London locations, offering excellent connectivity in the capital and to major cities across the UK.
“Our developments in Rainham and Erith will strengthen and complement our growing national portfolio, and further establishes our commitment to build modern and highly-sustainable logistics warehousing that meets occupier and investor needs.”
SpringerNicolas advised Firethorn Trust.
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