Invesco Real Estate has entered into a joint venture with Logistics Capital Partners (LCP) to co-invest and build an approximately 800,000-square-foot class A multi-let industrial and logistics park in Thamesmead, London, with an end value estimated to be more than £250 million ($335 million).
For Invesco Real Estate, the acquisition of the plot and subsequent development is being undertaken on behalf of its flagship pan-European strategy alongside LCP, being a privately owned and top-ranked pan European logistics developer and asset manager, with a strong track record of growth and development of prime facilities.
The site covers 67 acres in the Eastern Corridor of Greater London, offering direct links into both Central London (15 minutes by train) and ports on the River Thames, with Junction 1 of the M25 also just 15 minutes’ drive away.
The new joint venture will work in partnership with the previous owner, Peabody Trust, and the Local Planning Authority,
