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Plans Submitted for £50M Grade A Industrial Development in Dagenham

Commercial People has learned that a joint venture (JV) between a fund managed by Credit Suisse Asset Management Global Real Estate, industrial developer Chancerygate and international real estate firm Hines has submitted plans to speculatively build a 172,169 sq ft industrial development in Dagenham, London.

Comprising of 15 Grade A units ranging from 5,490 sq ft to 34,671 sq ft, the six-acre site -which wholesale electrical distributor Rexel UK previously owned, has a gross development value of £50m.

Commenting on the development, Chancerygate Development Manager, Tom Faulkner, said: “We are excited to have submitted plans for an ambitious industrial development in a truly prime location.

“Our proposals to bring 172,169 sq ft of Grade A industrial, warehousing and trade counter space to Dagenham will meet the needs of local businesses and we are confident the development will be a great asset for the area.”

Situated on Rainham Road between the A12 and A13, the site is located less than half a mile from Dagenham Council’s newly proposed £300m film and TV studios.

Demolition work is scheduled to begin on-site within the next two months, with a decision on the proposed plans expected before the end of the year.

Hines’ Managing Director of Industrial and Logistics, Greg Cooper, continued: “We believe the site and our development plans has enormous potential to attract a variety of different businesses to Dagenham that are either expanding or relocating. This is an excellent example of our creative transformation of urban environments with leading edge logistics developments.”

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