UK urban shed developer Chancerygate has achieved practical completion on its £32 mln (€38 mln), 120,000 ft2 (11,150 m2) urban logistics scheme on Edgington Way in Sidcup.
Called Sidcup Logistics Park, the development comprises 13 Grade A units. Chancerygate forward sold 12 of the properties totalling 113,800 ft2, which represents 95% of the available space at the development, ahead of practical completion. The final 6,200 ft2 unit is currently under offer.
Chancerygate development director, Jonathan Lee, said: 'There continues to be significant demand within Kent for sustainable Grade A urban logistics space in strategic, highly accessible locations.
'The rate of forward sales at Sidcup Logistics Park is proof of this and our development will provide the platform for further investment and job creation within Sidcup and beyond.'
All properties at Sidcup Logistics Park benefit from electric vehicle charging points and solar cells on their roofs which provide up to 35% of the units’ energy needs. In addition, the units are constructed from high-performance building materials to reduce CO2 emissions.
The scheme is located less than two miles from Sidcup town centre and provides access to the A20, M25 and central London.
The development is the second scheme Chancerygate has completed in Sidcup in the past three years. The first was its successful development of 117,000 ft2 of urban logistics space at Klinger Industrial Park which was forward sold to M&G Real Estate.
Sidcup Logistics Park is located next to a site of special science interest (SSSI), so Chancerygate has used green coloured cladding and a landscaped bank to minimise visual disruption from the SSSI.
Founded in 1995, Chancerygate is the UK’s largest multi-unit urban logistics property developer and asset manager and the only one operating nationwide.