Tritax Big Box REIT plc has announced the pre-let of its 2.3 million sq ft Dartford Mega Box logistics building to a 'world leading on-line retailer' believed to be Amazon, following the granting of planning consent at the Littlebrook development.
The Littlebrook development project, formerly the site of a decommissioned power station, is adjacent to the QE2 Bridge, Dartford Tunnel and on the south bank of the River Thames and has the potential to become one of London’s largest Big Box logistics parks in a critical “last journey” location inside the M25.
Tritax, together with its development partner, Bericote Properties (the Developer), has successfully secured detailed planning permissi from Dartford Borough Council for this pre-let development, with practical completion expected in Summer 2021.
Colin Godfrey, CEO, Fund Management, commented: “The signing of this pre-let for a 2.3 million sq ft prime logistics facility is a great achievement and demonstrates our strategy is working. By combining our deep understanding of the market and long-standing customer relationships forged across existing high-quality assets with an attractive development portfolio, we are creating significant value for our customers and investors. Furthermore, recent macro events are accelerating substantial tailwinds for our business through the ongoing adoption of e-commerce platforms as consumers increasingly shop online.
“This enhances our existing portfolio with a substantial, prime and sustainable logistics investment at an attractive yield on cost as we advance our plans to transform this disused brownfield site into a new premium logistics park. Working with our partner Bericote, the development of the site will not only deliver much sought-after high specification logistics space for London, but will also bring enhanced local infrastructure and significant employment opportunities to the local area, strengthening its economic growth.”