TT Group sells £50m GDV South London industrial development site to Kennedy Wilson

We have completed the sale of the freehold interest in a prime industrial development site in Croydon, South London, to global real estate investment company Kennedy Wilson.

The sale follows our in-house development team securing outline planning approval for a scheme of up to 115,000 sq ft of flexible, light industrial space on the 4.6-acre site on Horatius Way in March 2025. The approval confirmed the highways strategy to create a single access/egress point for the scheme, maximising site coverage and creating a GDV of up to £50 million.

Previously occupied by BT, the site formerly housed 50,000 sq ft of outdated industrial accommodation that we demolished in 2024. It is currently let to a temporary occupier, leading truck parking operator Park Your Truck, on a three-year lease.

Horatius Way sits within the established Imperial Way Strategic Industrial Area, home to occupiers including Amazon, DHL and Minster.

Murray Burdis, Associate Director – Planning and Disposals, at TT Group, said: “The sale to Kennedy Wilson follows our value add at the site through securing a successful outline planning consent, the demolition of outmoded facilities and open storage letting. Horatius Way offers occupiers excellent connectivity in a long-standing strategic industrial area, and we are pleased to see a highly established buyer take forward this stand-out opportunity for the development of high-quality, flexible space.”

“This site is particularly well positioned within one of London’s core industrial locations. We continue to have high conviction around London industrial and are always looking for well-located, sizable holdings with good optionality, such as this Croydon property, as we continue to grow our UK portfolio,” said Jake Harris, Managing Director at Kennedy Wilson. 

Newmark acted for us in the transaction.