M25 logistics site pre-let to “world-leading” online retailer
A new logistics building to be delivered within London’s M25 motorway has been pre-let to an unnamed global online retailer.
Tritax Big Box REIT plc (Tritax Big Box) has announced that it has received planning consent and exchanged contracts with an online retailer to pre-let a new Mega Box logistics building in its Littlebrook development in Dartford.
Comprising 2.3 million sq ft, the planned logistics building is situated on a 35.5 acre plot within London’s orbital M25 motorway.
Formerly the site of a decommissioned power station, the Littlebrook development is adjacent to the QE2 Bridge, Dartford Tunnel and on the south bank of the River Thames.
Colin Godfrey, CEO of fund management at Tritax, commented: “The signing of this pre-let for a 2.3 million sq ft prime logistics facility is a great achievement and demonstrates our strategy is working.
“By combining our deep understanding of the market and long-standing customer relationships forged across existing high-quality assets with an attractive development portfolio, we are creating significant value for our customers and investors.
“This enhances our existing portfolio with a substantial, prime and sustainable logistics investment at an attractive yield on cost as we advance our plans to transform this disused brownfield site into a new premium logistics park.”
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