Icon Industrial, a strategic joint venture formed by Stoford Developments and TPG Real Estate, has officially launched a 505,000 sq ft warehouse and logistics development in Harlow.
The first phase of speculative development at the scheme named Icon Harlow, is to comprise two highly specified new units of 68,100 sq ft and 96,827 sq ft. Each unit will contain up to 50m yard depths and 15m eaves height and offer two and three storey Grade A office accommodation. Construction starts on phase one of the development next month, with the units expected to be available for occupation from Q3 2019. Phase two of the development will provide further build to suit units of up to 200,000 sq ft.
Icon Harlow – the second investment made by the Icon Industrial joint venture – was officially launched at an event at the Ivy Soho Brasserie, in Soho, London, attended by 40 property professionals from the south east industrial market.
Tony Nash, director of Stoford Developments, said: “This is a landmark development for the north London market and also for Icon Industrial. It presents potential occupiers with an excellent opportunity to secure a striking new warehouse/logistics development that will offer exceptional quality, in a premier business location.”
He added: “The connectivity Icon Harlow offers future occupiers, to both greater London and the south east, makes it a hugely significant site, being just 15 minutes from Junction 27 of the M25.”
Icon Harlow is situated within the established London-Stansted-Cambridge corridor, conveniently located just 30 miles north of central London and 9 miles from the M25. The development is in close proximity to London Stansted Airport, M11 and M25 motorways and the new DP World London Gateway Port.
Several high-profile occupiers are already based within the vicinity, including DHL, FedEx, Wincanton, GSK and Bunzl.
TPG Real Estate and Stoford Developments are well on their way to building Icon Industrial into a substantial logistics platform, acquiring and developing similarly attractive UK sites, as well as refurbishing existing buildings in prime logistics locations. TPG Real Estate has significant experience investing in logistics, while Stoford has completed more than 12 million sq ft of industrial development in the UK.
Icon Industrial recently revealed plans for a new £60 million global content creation studio in Manchester for The Hut Group, providing 104,000 sq ft of office space over four floors, as well as additional content creation facilities totalling 168,000 sq ft.