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DHL takes Park Newham lease

By James Wallace - Wednesday, May 09, 2018 14:37

SEGRO Park Newham is now fully let after DHL, the logistics company, had agreed a 25-year lease on a 51,500 sq ft which it will use as a parcel delivery and urban logistics centre.

Joining the parcel operators at SEGRO Park Newham, budget operator Travelodge has signed a 25-year lease for a 113 bed hotel which is already under construction and due to complete in early 2019, bringing new amenity to the previously vacant site.

Separately, the Greater London Authority (GLA) and SEGRO has declared the 45,207 sq ft SEGRO Park Rainham officially open. It is the first industrial park across the East Plus industrial portfolio to reach practical completion. It includes an Enterprise Quarter with 42 units ranging from 500 sq ft to 2,000 sq ft, designed to attract and grow start-up and small businesses.  Five business have already signed leases for space from which to operate. 

SEGRO Chief Executive, David Sleath, said: “Today we are celebrating the progress made so far at East Plus, with construction and lettings ahead of schedule and with strong interest from potential occupiers of all sizes – from start-ups to global giants. There is huge demand for high quality industrial space in strategic locations in East London and we are grateful to our partners, who are helping make the renewal of this part of the capital an exciting new reality.

“In the rush to build tens of thousands of new homes in London we must not forget that the families who move in will need jobs close to where they live. Sustainable regeneration means that there must be high-quality, employment spaces alongside new homes.

“Further, over the next 20 years London will need much more industrial space for ecommerce and logistics in order to keep the capital’s economy running.  Light manufacturing and tech will also support an increasing number of London jobs – these businesses have particular accommodation needs which must be met for them to thrive.”

James Murray, London's Deputy Mayor for Housing and Residential Development, said: “This project is a vote of confidence in our capital's industrial future, delivering decent jobs close to where Londoners live and demonstrating that London is open for business. The Mayor is working hard to unlock London's land for housing and employment, and to make sure all Londoners can benefit from the jobs and homes we create.”

SEGRO is planning to deliver 480,000 sq ft in the next three to four years with five schemes coming forward in the London Boroughs of Rainham and Barking & Dagenham. 

James Wallace is a freelance consultant and can be reached via Linkedin or email: jawallace32@gmail.com

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