Barings JV acquires logistics development in London

Barings and property developer HBD have acquired a strategically located logistics development opportunity in Rainham, London, in a joint venture partnership on behalf of a Pan-European value-add strategy.

The 20.5-acre site has outline planning for B1c, B2 and B8 uses, and the joint venture plans to build a large to mid-box scheme totaling 368,000 square feet with design and build opportunities being considered.

The redeveloped site will aim to provide new high specification, highly sustainable industrial and logistics units, including enhancements to the River Thames waterfront and cycle path. The site also presents an excellent opportunity for river logistics with potential jetty access.

Work is due to begin next year and, once completed in 2023, is expected to have a gross development value of more than £100 million (€118 million/$139 million).

The asset is located in Rainham, 15.5 miles east of central London, and benefits from excellent transport