Agents appointed for ?30m Battersea Industrial Logistics Site
Leading London investor-developer Avanton has appointed agents and commenced pre-lets for Culvert Court in Battersea, ahead of the industrial complex’s redesign into a modern, urban logistics complex to be named ‘The Steel Works’.
Located at 105 Culvert Road in Battersea, Avanton was granted full planning permission in January 2023 to transform a 22,000 sq.ft. site of 128 micro-units into a new urban logistics complex. The complex will provide larger, purpose-built units totalling 36,500 sq.ft (30,225 GIA) of multi-level logistics for Class E(g)(ii)(iii) and B8 use. There will be three modern industrial buildings, with unit sizes ranging from 2,150 sq.ft. to 5,860 sq.ft. located over ground, first and second floors.
The Steel Works is designed by Boehm Lynas Architects and has a targeted BREEAM “Outstanding” rating for sustainability. With a completed GDV of £30 million, it is the first logistics site in Avanton’s investment portfolio. The site has been cleared for construction to start, with completion scheduled for Q3 2024.
BNP Paribas Real Estate and industrial leasing specialists DTRE have been appointed to find tenants for the new complex. The agents highlight there is freedom of flexibility for tenants, with the spaces adaptable to suit business needs and scope for a single operator to lease the entire complex if desired.
With the rising need for last-mile logistics and a scarcity of locations in Zone 2, The Steel Works is excellently placed. It is in close proximity to residential estates, the site could appeal to last mile delivery services and a variety of local business needs including catering, storage and business expansion. Pre-lets on the site are open now and there can be flexibility on design for any early-bird pre-lets.
Harry Halpin, Development Manager at Avanton says: “We’re excited to progress with The Steel Works, our first logistics site in Avanton’s portfolio. Modern consumer demands and a huge supply imbalance means that inner-city warehousing space is very valuable especially in London. Even in the few months between planning permission being granted and clearing the site, we are seeing increasing enquiries from prospective tenants looking for logistics space in this key Zone 2 location.”
Claudia Harley, Associate Partner at DTRE says: “London is seeing an ever-increasing demand for inner city locations for last-mile logistics and The Steel Works is excellently placed to capitalise on this demand. Any interested tenants should get in contact as we anticipate huge demand for this space once the site is complete.”
Paul Smyth, Senior Director at BNP Paribas Real Estate says: “Super urban logistics sites are a growing need for our capital. Sites with good road and rail connections and proximity to residential estates are rare on the market, and The Steel Works meets all these requirements.”
The Steel Works has quick access to Battersea Park Road (A3205), as well as good connections across South London. It is walking distance from Battersea Power Station (Northern Line), as well as Queenstown Road Station (South-Western Rail) and Battersea Park Station (Southern Rail). It is extremely attractive to occupiers, given its sustainability credentials, being located in the ULEZ but outside the congestion zone.