Firethorn Trust has bought a four-acre logistics site in Belvedere, South East London, for a £45m GDV last-mile scheme.
The developer aims to speculatively build a 94,000 sq ft, Grade-A space at the site, with works beginning this year. It will represent its first venture into London’s logistics market.
The deal comes after Firethorn bought a 24-acre scheme in Barnsley. It takes its development pipeline to more than 2.8m sq ft.
Dan Green, associate director at Firethorn Trust, said: “Marking the first London development in our growing logistics portfolio, this acquisition is an exciting deal to kick-start 2022, and demonstrates our ambition for the future.
“As our national presence continues to grow, and we drive forward our commitment to quickly respond to occupier and investor needs, we have recognised the urgent demand for new, high-quality assets to effectively supply major cities across the UK.”
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