Leading industrial and logistics expertise
We provide expert legal advice to some of the biggest names in the industrial and logistics sector.
Size: 1.8 million sq ft
Value: £12.1 million
We acted for Wrenbridge and Buccleuch on the purchase, pre-let and sale of Quadron, Dartford, a Grade A 1.8 million sq ft logistics building in Dartford.
Our commercial real estate, construction and planning teams all advised on this matter. As part of the purchase and construction, we negotiated the complex transaction documentation and building contract to create an institutionally acceptable package which would be suitable to future occupiers and purchasers. Our teams ensured that the responsibility for the outstanding obligations in the estate wide outline planning permission (and connected section 106 agreement) was adequately apportioned in the transaction documentation.
This is significant because recent case law has highlighted the importance of getting this position right to ensure any future development remains lawful, not just deliverable.
At the time of the sale the 41,500 sq ft scheme was fully pre-let to Network Rail. The scheme was sold to Aberdeen Standard Investments in Q4 2019 for £12.1 million.
The whole development (from purchase to sale) was achieved within 17 months and won Deal of the Year in the under 75,000 sq ft category at the 2019 IAS Awards.
Bessemer Park, Sheffield
Size: 134,000 sq ft
We advised PLP on the purchase of Bessemer Park, and the pre-let of Phase 1 which consists of 134,000 sq ft unit and a 45,000 sq ft unit.
Our commercial real estate and construction teams worked together to ensure that the complex pre-let documentation and the building contract produced an institutionally acceptable package which would be suitable to future occupiers and purchasers.
Bessemer Park is strategically located adjacent to Junction 34 of the M1 motorway, south of Meadowhall Shopping Centre, with six airports within a 90-mile drive and 75 percent of the UK within a 4.5 hours HGV drive.
The entirety of Phase 1, (which consisted of a 134,000 sq ft unit and a 45,000 sq ft unit) was pre-let prior to practical completion. The letting to ITM Power PLC won Deal of the Year in the 100,000 – 250,000 sq ft category at the 2020 IAS Awards.
A reserved matter planning application has been submitted in relation to Phase 2 of the scheme, which will enable the delivery of four distribution units ranging from 84,000 sq ft to 293,000 sq ft. The Council has resolved to grant the approval which is subject to the completion of a further planning agreement to secure an ecological contribution.
Crewe Logistics Park, Crewe
Size: 92,000 sq ft
We acted for PLP on the purchase of PLP Crewe and the subsequent pre-let of Phase 1 of the scheme which comprised of two built units of 43,000 sq ft and 92,000 sq ft to Brightstar.
As part of the construction and pre-let of Phase 1, our commercial real estate and construction teams worked together to ensure that the construction and the pre-let documentation reflected the building works which were phased between base build works, landlord’s additional works and tenant enhancement works.
Our construction team then ensured that the warranty package available to the occupational tenant reflected the phased nature of the works.
The pre-lets of Phase 1 were conditional on the grant of satisfactory planning permission and our planning team ensured that the planning position at the property was accurately reflected in the transaction documentation.
PLP Crewe is a prime 30 acre gateway logistics site with links to Junction 16 of the M6 and the proposed HS2 Crewe Hub.
The entirety of Phase 1 (which consists of two speculatively built units of 43,000 sq ft and 92,000 sq ft) was let to Brightstar, the world’s leading provider of integrated solutions for the mobile and financial service industries.
Phase 2 of the construction project is a fully serviced 20 acre plot offered for design-and-build development of up to 500,000 sq ft in single or multiple units. The site already has outline planning consent.
Hawkers Yard, Ruislip
Size: 47,104 sq ft
Value: £14 million
We advised Wrenbridge and Fiera Real Estate on the purchase, development and disposal of Hawkers Yard, Ruislip.
Hawker's Yard is a 47,104 sq ft industrial scheme situated in Ruislip, a prime West London location with proximity to the A40 and comprises of seven high specification units ranging from approximately 2,500 sq ft to circa 15,000 sq ft. Hawkers Yard was purchased in October 2020 by Mileway for £14 million.
Our commercial real estate, construction and planning teams collaborated in connection with the acquisition of the former industrial site in relation to the environmental matters; the development of the site including the administration of the works and the impact of Covid-19; and the disposal of the site. This includes the provision of an institutionally acceptable package of construction rights; and the consideration of the ownership position from a planning perspective to ensure that the obligations attached were aligned correctly to the relevant parcels of land.
North Crescent, Canning Town
Size: 5,216 sq ft
Value: £x million
Location: Canning Town
We acted for Welland Property Unit Trust on the purchase, redevelopment and letting of a site in Canning Town in the London Borough of Newham.
Forsters construction teams worked alongside their real estate colleagues in connection with the redevelopment of a portion of the site, comprising of the design and construction of five new industrial and warehouse units with ancillary office space.
Two separate consents were combined under a single planning agreement to secure employment obligations at the request of the local planning authority.
The development is now fully let, as a “last mile” logistics hub.
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At Forsters we have a large and cohesive real estate team that has a full understanding and in-depth knowledge of the industrial and logistics market.