HBD and Barings secure planning for 400,000 sq. ft. London logistics scheme
HBD and Barings, one of the world’s largest diversified real estate investment managers, have secured detailed planning for a strategic logistics scheme in Rainham, London, transforming a 20-acre brownfield site.
The new development, Momentum London, is being delivered by HBD and Barings in a joint venture partnership. It will create 381,814 sq. ft. of new logistics and industrial space across four units ranging from 41,000 -171,000 sq. ft.
The scheme will target Net Zero Carbon, BREEAM “Excellent” and an EPC “A+” rating. This is being achieved by dynamic design, careful consideration of materials, zero use of fossil fuels, maximizing photovoltaic solar panels, battery storage and intelligent building systems. The units will be 100% EV ready, including passive fleet charging to the yards.
The logistics park will be set in landscaped environment with picnic and public areas, as well as direct access onto the Thames Cycle Path, so that it brings further social benefits to the area.
Positioned on the River Thames, with potential for jetty access, Momentum will offer an easy stepping stone into Central London and out via the A13, just minutes away.
Simon Quine, Senior Development Surveyor at HBD, said: “Industrial and logistics space remains in very limited supply across London, particularly larger distribution units. Momentum will plug that gap within the M25 and provide modern, sustainable logistics and distribution space to serve London and the wider South East market.
“Landscaping and wellness have been thoroughly considered, with careful design considerations and enhancements to the Thames Foot and Cycle path, which we hope will help occupiers to attract and retain staff.”
Darren Hutchinson, Head of UK Real Estate Transactions and Managing Director at Barings, said: “Momentum London will be a strategically located logistics scheme with strong environmental and social credentials, beneficial both to future occupiers and the communities around it. Logistics is one of Barings’ preferred investment sectors and Momentum London exemplifies the kind of developments we’re seeking, with a keen interest in exploring joint ventures like this one with HBD.”
The JV will start on site in October 2022 with the units available for occupation from late 2023.
Letting agents on the scheme are CBRE, Montagu Evans and Glenny.
Barings Real Estate is one of the world’s largest diversified real estate investment managers. It offers a broad range of global investment opportunities across the private debt and equity investment markets and invests in all major property sectors.
HBD one of the UK’s most active property developers, with seven offices across the country. It concentrates on three key sectors; industrial and logistics, urban regeneration and residential.
Tali Robinson/Polly Warrack/Ben Monteith (SEC Newgate)
Barings Real Estate
Barings Real Estate (BRE) is a part of Barings and offers a broad range of global investment opportunities across the private debt and equity investment markets. BRE invests in all major property sectors and offers an expansive range of financing solutions to real estate borrowers. BRE also specializes in providing government and government-sponsored entity lending products through our wholly owned subsidiary, Barings Multifamily Capital. Follow us on LinkedIn at www.linkedin.com/showcase/barings-alternative-investments.
Barings is a $371+ billion* global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment.
*Assets under management as of March 31, 2022
HBD is part of the Henry Boot Group of Companies, with over 130 years’ experience bringing buildings back to life. With offices in Leeds, Sheffield, Glasgow, Manchester, Birmingham, Bristol and London, HBD takes on ambitious developments in a diverse range of sectors across the UK.
Focusing on three key markets - industrial and logistics, urban regeneration and residential - its portfolio includes everything from work spaces and large-scale employment schemes through to residential innovation and award-winning heritage projects; no two developments are the same.
From the £333m P&J Live Arena in Aberdeen and its £250m Kampus scheme in Manchester, through to the vast 370-acre International Advanced Manufacturing Park in the North East, HBD creates places with purpose. www.hbd.co.uk