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Jones Lang LaSalle instructed on important speculative industrial scheme in Park Royal, West London


London, 26th November 2012 - Jones Lang LaSalle is instructed by SEGRO to market its prime industrial site Origin situated immediately adjacent to the A40 in Park Royal, London.

The 24 acre site which is awaiting planning consent following a hybrid planning application submitted on 26th October will be developed in part on a speculative basis.

Phase I will consist of 160,000 sq ft. in three stand-alone buildings of  36,000 sq ft, 53,000 sq ft and 69,000 sq ft, all with secure yards and is due for completion in late April 2013. All of the units will be highly sustainable and constructed to a BREEAM ‘excellent’ standard.

Phase 2 will be available to accommodate a further 303,000 sq ft in a range of units and will be marketed on a pre-let basis.

Gus Haslam, Industrial Director at Jones Lang LaSalle who is marketing the space for SEGRO commented: “The lack of grade A and reducing Grade B accommodation coupled with continued good demand and a tightening of head-line terms indicates that this is the right time to show strong commitment to North West London by building out part of Origin speculatively. The London industrial team are very excited to be involved in this flagship development.”

Alan Holland, Business Unit Director for SEGRO Greater London said, “Origin is one of the few remaining prime development sites in West London. This is a great opportunity for us to show our continued commitment to West London, one of our core markets.  We believe this development will act as a significant catalyst for attracting new businesses as well as promoting growth and new jobs to the area.

“We feel that the market dynamics are right to submit our plans for this speculative development.  There is a known shortage of high quality, Grade A accommodation in this area and we are confident there is the demand to attract new customers to this flagship scheme.”

Park Royal is home to a number of customers and due to its close proximity to London, it is a particularly attractive location for those companies involved with food and beverage production, logistics and TV/media production.

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