Work has begun on phase one at Icon Harlow, Essex, a speculative development of two new logistics units, Icon Industrial has announced.
Icon Harlow, which comprises two highly specified units of 68,100sq ft and 96,827sq ft, is a joint strategic venture by leading commercial property developer Stoford Developments and global private investment firm TPG Real Estate.
Readie Construction has been appointed to construct the units, each of which will consist of up to 50m yard depths and 15m eaves height and will also have two and three-storey Grade A office accommodation. Practical completion is expected in Autumn 2019.
Tony Nash, director of Stoford Developments, said: “We’re excited that work has now started bringing forward these two high-spec warehouse and logistics units in Harlow. These will provide potential occupiers with superb quality accommodation in a premium location, just nine miles from the M25. This is a substantial investment.”
Icon Harlow is the second development by the Icon Industrial joint venture. This month, Icon Industrial announced that approval had been granted for an 11.6-acre logistics and global content creation studio at Manchester Airport on behalf of online beauty and wellbeing retailer, The Hut Group (THG), which could house up to 2,000 people.
Icon Harlow is located within the established London-Stansted-Cambridge corridor, 30 miles north of central London and nine miles from the M25. The development is close to London Stansted Airport, M11 and M25 and the new DP World London Gateway Port.
Several high-profile occupiers are already based nearby, including DHL, FedEx, Wincanton, GSK and Bunzl.
TPG Real Estate and Stoford Developments are building Icon Industrial into a significant logistics platform by acquiring and developing similarly attractive UK sites, as well as refurbishing existing buildings in prime logistics locations.