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Called "The Works", the development will comprise 15 leasehold units ranging from 2,000 sq ft to 16,000 sq ft, with the option to combine units.

Located on the outskirts of Croydon town centre, the Factory Lane site is 10 miles south of central London and benefits from excellent access to the A23, A232 and M25. Neighbouring occupiers include a Tesco distribution centre, Sainsbury’s, Royal Mail and Decathlon.

All units at The Works will feature electric vehicle charging points along with solar cells which provide green energy on an affordable basis to occupiers. In addition, the units will be constructed from high-performance building materials to reduce CO2 emissions. The scheme is targeting a BREEAM accreditation of Excellent and for all units to achieve an EPC A+ rating as a minimum.

Chancerygate development director, Tom Faulkner, said: “There’s strong demand for high quality, sustainable urban logistics accommodation within Croydon and the South London area. The Works is the first multi-unit urban logistics scheme to developed in Croydon for 10 years targeting SMEs and will help satisfy this demand while allowing occupiers to benefit from its close proximity to key infrastructure links.

“It is also a strong example of how we are turning a disused brownfield site in an established industrial location to new employment land, creating local job opportunities and stimulating regional growth. We now look forward to practical completion and delivering much-needed Grade A urban logistics units into the market and a lasting economic asset for Croydon.”

Tom James, Head of UK Transactions from CBRE IM, said: ““This project represents a strategic investment in a high-demand area, offering modern, sustainable space that aligns with our commitment to deliver long-term value creation for our investors. The Works will provide state-of-the-art facilities with excellent connectivity.”