SEGRO has bought a 20-acre development site in Purfleet on the Thames estuary from Savills Investment Management.
The land, adjacent to the A13 corridor between Barking and West Thurrock, has the potential for 400,000 sq ft of development. It is expected to be targeted at delivery firms, logistics providers and retailers.
Greater London business unit director Alan Holland said: “This transaction is an excellent way to add to our Greater London land bank in a location where occupier demand is strong and where there is a lack of modern, high quality industrial, warehouse and urban distribution facilities.
“The deal fits with our strategy to increase our presence in east London, where our customers are looking for space to service the ever increasing population.”
chris.berkin@estatesgazette.com
