GLi have secured a pre-let of their prime urban logistics hub PR1 with Classic Fine Foods.
Classic Fine Foods, part of Metro AG, is an international food company which delivers, on demand, the highest quality of ambient, fresh and frozen products to the best restaurants, hotels and pastry shops in Central London. It also supplies the most prestigious department stores and gourmet food outlets. The company is already located in Park Royal and continuing its expansion with the letting of a new HQ at PR1.
PR1 is a 61,611 sq ft logistics unit on Abbey Road, the heart of West London’s premier industrial location with exceptional connectivity via the North Circular Road, A40 and M25. The scheme is now on site and the unit will become available for occupation in Q1 2023.
The design offers sector-leading sustainability and energy efficiency, as do all GLi properties. It will be 100% electric with maximum rooftop PV coverage and storage batteries will be included. As energy prices keep rising, these batteries will provide substantial savings in energy costs equivalent to a value of up to £1.50 per sq ft. PR1 also offers 100% EV car and van charge points and will be net zero in construction.
PR1 is part of the GLi platform – a joint venture between KSP and PATRIZIA – that has €1 billion equity to invest in urban logistics through a sidecar to its TransEuropean VII value add fund.
The pre-let of PR1 marks the first letting for the JV as it continues to expand and further bolsters its Greater London offer, aiming to meet increasing market demand for last mile logistics space within the M25. A second unit in Park Royal, also on Abbey Road, will soon become available. Further GLi properties are located in Charlton, Croydon and Mitcham.
Olivier Batel, Managing Director of Classic Fine Foods said: “We are looking forward to working with the GLi team and moving into PR1, following completion. The space gives us the ability to grow, in a sustainable way and is close to our current business base, making it the ideal opportunity.”
David Johnson, CEO at KSP said: “We are very pleased to be working with a prestigious company such as Classic Fine Foods, helping a successful Park Royal company grow their business without locating outside the area. In securing a pre-let for PR1 not long after starting construction, we will now work closely with them to ensure that we can deliver the logistics warehouse to best suit their needs both now and in the future.”