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British Land Co PLC on Wednesday said it received a resolution to grant planning permission for an around 140,000 square feet multi-level last-mile logistics scheme on Mandela Way, Southwark in London. The London-based commercial property developer and investor said the former Southwark Council car pound ‘will be redeveloped to feature four floors of flexible, high-quality, sustainable logistics space with exceptional access to local consumers and central London making it suitable for a range of prospective occupiers.’ ‘The asset’s ground floor logistics space provides access for a variety of distribution vehicles including heavy goods vehicles and cargo bikes, while upper floors will be served by lifts,’ the company added. Mike Best, head of Logistics at British Land, said: ‘Mandela Way is the latest scheme in our London urban logistics pipeline to receive planning consent following approvals at both Paddington Central and Enfield earlier this year, enabling us to bring forward another high quality logistics project and continue to address the acute undersupply of sustainable, modern warehousing in Greater London. ‘We continue to explore new opportunities to leverage our longstanding investment and development expertise to source and execute acquisitions which unlock opportunities to densify London’s logistics supply.’ British Land shares were 1.2% higher at 309.90 pence each on Wednesday morning in London. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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