International legal practice Osborne Clarke has advised Gazeley, a GLP company and leading investor and developer of logistics warehouses and distribution parks, on its purchase of a six-acre plot of land in the heart of London to speculatively develop the UK’s first three-storey logistics facility to be called G Park London Docklands. The site, located in Silvertown, was acquired from joint venture partners Galliard Homes and Cain International.
The warehouse will comprise over 426,000 sq ft of space over three levels allowing for either multiple or single tenant occupancy. The building will be used as a ‘last mile’ logistics hub for London and surrounding areas, targeting e-commerce, distribution and logistics occupiers. This development is in line with Greater London Authority’s commitment to land being made available for ‘last mile’ distribution close to central London and the Northern Isle of Dogs. The warehouse will be 2.5 miles from the City of London.
The site is opposite London City airport, immediately next to West Silvertown District London Rail (DLR) station on North Woolwich Road. With unparalleled access to serve the City of London and 5.6 million people living within a 30-minute drive, this is a genuine last mile, ultra-urban logistics opportunity for Gazeley's retail and distribution customer base.
As the first three-storey warehouse in the UK, it will utilise platforms to allow HGVs and other vehicles to access each level. Each storey will comprise 140,000 sq ft of space with 26 dock doors and four access doors on each level. The site will contain 350 car parking spaces and around 75,000 sq ft of ancillary office space. G Park London Docklands will include a range of sustainability features such as the provision of electric charging points for vehicles, wellness initiatives to improve the working environment for people and a BREEAM Very Good rating.
Gazeley expects the development to be completed by the end of 2019, subject to planning permission.
Jo Footitt, Osborne Clarke Partner, commented: "It has been fantastic to work with the Gazeley team on such a high profile and ground breaking transaction. The acquisition demonstrates Gazeley's increased appetite for acquiring development sites in key areas of the UK, as well as showing that they are embracing the trend for logistics and residential developments to work and exist side by side."
Alex Verbeek, Managing Director, UK, Gazeley, said: "This type of development has never been done before in the UK. A three-storey warehouse in such a central location will be hugely valuable for Londoners who will benefit from occupiers being able to deliver goods in record time. London is at the forefront of the digital revolution, but these services require an equally innovative supply chain to facilitate it. We feel that G Park London Docklands will make a big contribution to the infrastructure which is essential to support London’s evolution as a leading centre for digital commerce.”
Martin Philips and David Philips of Howard Kennedy advised Galliard.
Gazeley is a long standing client of Osborne Clarke and this deal sits at the cornerstone of Osborne Clarke's real estate expertise and logistics industry experience. Our logistics sector experience sees us work with businesses across the supply chain from financiers and providers of warehousing, through to transport logistics, retailers and technologists.