Work has begun on a new 93,000 sq ft Grade A urban logistics development on Croydon’s Factory Lane, which could create about 150 jobs.
Called The Works, the development will include 15 leasehold units ranging from 2,000 sq ft to 16,000 sq ft, with the option to combine units.
The scheme is being delivered by developer Chancerygate and global real assets investment manager CBRE Investment Management (CBRE IM), on behalf of a fund sponsored by the firm.
Located on the outskirts of Croydon town centre, the Factory Lane site is ten miles south of central London and offers convenient access to the A23, A232, and M25. Neighbouring occupiers include a Tesco distribution centre, Sainsbury’s, Royal Mail, and Decathlon.
All properties at The Works will feature electric vehicle charging points and solar cells, which provide green energy at an affordable cost to occupiers. The units will also be constructed from high-performance building materials to reduce CO2 emissions.
The scheme targets a BREEAM accreditation of Excellent and aims for all units to achieve a minimum EPC A+ rating.
Chancerygate development director Tom Faulkner said: “There’s strong demand for high quality, sustainable urban logistics accommodation within Croydon and the South London area.
“The Works is the first multi-unit urban logistics scheme to be developed in Croydon for 10 years, targeting SMEs, and will help satisfy this demand while allowing occupiers to benefit from its close proximity to key infrastructure links.
“It is also a strong example of how we are turning a disused brownfield site in an established industrial location into new employment land, creating local job opportunities and stimulating regional growth.
“We now look forward to practical completion and delivering much-needed Grade A urban logistics units into the market and a lasting economic asset for Croydon.”
Tom James, head of UK transactions at CBRE IM, added: “This project represents a strategic investment in a high-demand area, offering modern, sustainable space that aligns with our commitment to deliver long-term value creation for our investors. The Works will provide state-of-the-art facilities with excellent connectivity.”
https://couriernews.co.uk/blog/croydon-development-set-to-create-150-jobs/