Orchard Street Investment Management has received planning permission for a 48,406 sq ft, carbon-neutral industrial scheme in the South East, from Surrey Heath Borough Council.
The investment manager will redevelop a site within the Albany Park Industrial Estate in Surrey as a speculative development. It is expected to complete in May 2021.
The previous warehouse building, which dates back to 1982, will be turned into three industrial and distribution facilities, each measuring between 14,000 sq ft and 18,500 sq ft.
These have scope to be combined to measure up to 48,406 sq ft, depending on prospective tenant requirements.
The facility has been designed to achieve a BREEAM Excellent rating and will feature 10m clear internal height, as well as office space on the first floor.
It will also offer electric vehicle charging points and onsite solar power generation.
Jamie Munday, asset manager at Orchard Street, said: “As the UK’s South East industrial sector continues to prove its resilience, this high-spec development will enable us to capitalise on the robust demand for highly efficient and well connected logistics space.”
Hurst Warne and Savills are the joint marketing agents for the scheme.
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