GLi, a joint venture between asset manager and developer KSP and investment manager Patrizia, has bought the former Jewson builders’ merchants on Goat Road in Mitcham, south London.
The 1.34-acre site, which includes a 10,227 sq ft warehouse with low site cover, will now form part of GLi’s Mitcham Park development, increasing the total site area to nearly 15 acres.
GLi said the strategic acquisition would enhance its first urban logistics scheme in Mitcham, providing a prime location on the edge of central London.
Mitcham Park will deliver 320,000 sq ft of ultra-sustainable warehousing with a range of flexible unit sizes ranging from 10,000 sq ft to 120,000 sq ft.
“Acquiring the Jewson site in Mitcham is a significant step in our strategic growth plan,” said Will Ikin, investment director at GLi. “This location complements our Mitcham Park development and reinforces our dedication to providing best-in-class, sustainable logistics solutions in key urban areas.
“We look forward to integrating this site into Mitcham offering and contributing to the economic vitality of the south London region.”
Mark Krol, director, fund management at Patrizia, added: “While the market remains challenging, we are continuing to deploy capital into highly selective opportunities for our flagship value-add industrials programme to unlock long-term value for our clients.”
Proposal for Mitcham Park are currently in for planning. GLi hopes to have permission in place for a Q1 2025 construction start.
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