Padrock has strengthened its presence in the South East with the acquisition of a 17-acre site in Borehamwood, paving the way for a significant new multi-let industrial and logistics development.
The Hertfordshire site, located off Watford Road adjacent to Centennial Park, benefits from outline planning consent for a 245,000 sq ft scheme. Plans propose the delivery of 13 high-quality units, ranging in size from 10,500 sq ft to 130,000 sq ft, targeting a mix of logistics, trade counter and light industrial occupiers.
With an estimated gross development value of £120 million, the scheme reflects continued investor confidence in well-located urban industrial assets, particularly those positioned close to London and major transport infrastructure. The site sits in a highly strategic location, with direct access to the A1 and within close proximity to the M1 and M25, offering strong connectivity across the capital and wider region.
A reserved matters application is expected to be submitted shortly, with construction anticipated to commence in autumn this year. Completion of the development is targeted for late 2027.
The scheme is being designed to meet modern occupier requirements, with a focus on flexibility, high specification and sustainability. Units are expected to achieve strong environmental credentials, aligning with growing demand for energy-efficient industrial space.
Mark Symonds, partner at Padrock, said the acquisition forms part of the company’s wider strategy to expand within London’s multi-let industrial market. He highlighted Borehamwood’s appeal as a key urban location, noting its accessibility and suitability for businesses requiring efficient distribution routes into central London.
Padrock was advised on the acquisition by M1 Agency, Lambert Smith Hampton and Simmons & Simmons, while the vendor was represented by JLL.
The deal underlines the ongoing momentum within the urban logistics sector, where constrained land supply and rising occupier demand continue to drive development activity and investment across key locations.
Building, Design & Construction Magazine | The Choice of Industry Professionals
