Bridge Industrial (“Bridge”), the US-based industrial real estate operating company and investment manager, has announced its fourth Greater London site acquisition for a new industrial development in Croydon.
The freehold 2.6-acre site on Factory Lane has been acquired from a private investor. The existing employment site will be redeveloped to provide a new 62,000 sq ft industrial/warehouse unit built speculatively to serve the last-mile logistics sector. Planning for the scheme – to be known as Bridge Point Croydon (BPC) – will be submitted towards the end of 2021.
Paul Hanley, Bridge’s London Partner, comments: “This Greater London site, our fourth site acquisition in just four months, is perfectly positioned to fit with our strategy of acquiring and developing high quality, purpose-built infill industrial assets to serve the last-mile logistics sector. Located in an established industrial location, Factory Lane, with access to the A23 – Purley Way – and the A232, the site provides excellent connections into Central London and out to the M25 to serve the Greater London area.”
Bridge was represented by Fidu Property in the transaction. DTRE and Colliers will be appointed as joint retained letting agents for BPC.
Bridge Industrial launched its UK operations in November 2020. In May, Bridge announced its first acquisition in North West London, Bridge Point Southall, followed by two further acquisitions in Barking and Uxbridge in July of this year. Bridge is actively pursuing land and development opportunities throughout Greater London, the South East, and the West Midlands.