Chancerygate completes Metroplex Park in Tolworth

A joint venture (JV) between developer Chancerygate and specialist sustainable impact investor Bridges Fund Management has achieved practical completion at its 70,300 sq ft urban logistics development in Tolworth.

Metroplex Park is located in Red Lion Business Park and comprises nine highly sustainable units ranging from 4,490 sq ft to 18,110 sq ft. Units are available on a leasehold basis, and the scheme has a gross development value of around £33m.

Situated near Tolworth Hospital and the A3 Kingston Bypass, the scheme benefits from excellent access to Kingston upon Thames and central London. It is seven miles from Leatherhead and 12 miles from Croydon and Heathrow.

Metroplex Park provides nine dual electric vehicle charge points, and all parking spaces are built with the ability to add more charging points based on future requirements. In addition, all properties feature air-source heat pumps and solar panels on their roofs, which provide affordable green energy to run the buildings.

The units are also constructed from high-performance insulative materials with controlled air tightness, which reduces CO2 emissions and increases energy efficiency.

These features have enabled the scheme to achieve an EPC A+ and BREEAM Excellent rating and will support it as a net zero carbon for a regulated energy scheme.

Chancerygate development director Matthew Young said: “Demand remains strong in Tolworth, Surbiton, Kingston and throughout South West London for brand new high quality, sustainable urban logistics accommodation.

“Metroplex Park will help satisfy this demand alongside supporting increasingly ESG-conscious occupiers with their sustainability strategies and protect against energy price volatility. There is already early interest as expected with two units under offer to a single occupier.

“We are pleased to have achieved such strong green credentials with Metroplex Park, making it our most dynamic development in the South East and a market-leading scheme within the region.”

Founded in 1995, Chancerygate is the UK’s largest urban logistics property developer and asset manager and the only one operating nationwide.

The company currently has around 1.16m sq ft of urban logistics space under construction or ready for development across ten sites from Edinburgh to Croydon.

Bridges is a specialist sustainable and impact investor. Its property funds focus on well-positioned sectors that will benefit from the transition to a more sustainable and inclusive economy, including lower-cost living, healthcare, and sustainable logistics.

Henry Pepper, partner at Bridges Fund Management, said: “With all our logistics developments, our goal is to deliver high-quality, highly sustainable logistics space in great locations that will be attractive to a broad range of occupiers.

“Metroplex Park is a perfect example of that. We’ve been able to develop some of the most sustainable industrial units in the UK, with smart design and on-site renewables that will make them zero carbon in operation.

“For potential occupiers, many of whom are thinking about their own Net Zero pathway, this means reduced carbon emissions – as well as lower operating costs.

“The early interest we’re already seeing at Metroplex Park is a good indicator of how attractive we think this site will be to businesses in south-west London.”

Agents for Metroplex Park are JLL and Bonsors.

Sign up to receive our weekly free journal, The Forum here.