GLi, the investment platform operated under a joint venture between PATRIZIA AG and KSP, has acquired 1-3 Queenway in Croydon, a prime industrial warehouse complex.
Situated on a 3.4-acre site in a strategic and well-established location for logistics, the facility com-prises 2 units totalling circa 140,000 sq. ft.
The Croydon facility boasts easy access to local transport networks including Purley Way (the A23) and is well served by an established talent pool specialising in logistics.
The flexible and sustainable complex, which will be 100 percent electric including car and van charging points, will be built on a net zero carbon basis. The Croydon site has excellent long-term development potential and is ideally suited to the needs of ambitious e-commerce businesses.
Croydon is the latest acquisition in GLi’s growing portfolio of strategically located logistics proper-ties following increasing market demand for space within the M25 driven by the growth in e-commerce for logistics facilities, and especially those well situated for last mile or last hour delivery.
Speaking on behalf of GLi, David Johnson said: “We’re seeing high demand for innovative logistics facilities that meet the very high expectations of e-commerce occupiers, their employees and their customers. This area of Croydon is an established and successful logistics location, well placed to meet the needs of 21st century businesses.”
The facility was acquired freehold by GLi from Camberwell Property Services Ltd on a sale and leaseback basis. CBRE represented GLi in the transaction, and Fletcher King represented Camber-well Property Services Ltd.