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Wrenbridge and Bridges get green light for 700,000 sq ft of net-zero carbon logistics space

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A joint venture between  Wrenbridge and Bridges Fund Management has secured  planning permission  to develop 700,000 sq ft of net zero carbon logistics space across three locations in the South East, with support from GLP.

The JV will develop the net-zero carbon prime logistics  spaces on sites  in  Basingstoke, Aylesford  and Stevenage. For the Stevenage and Basingstoke sites, the pair have teamed with GLP to develop two sustainable warehouse/logistic schemes.

The partners will develop one 209,461  sq ft unit on the  Basingstoke site, as well as 205,560  sq ft across three units sized  25,736  sq ft, 73,593  sq ft and 106,531  sq ft, the largest of which  has been pre-let to Bunzl on a 10-year-lease.

The Aylesford site off Junction 5 of the M20 has received planning  permission for 300,000 sq ft across six units. This site will be the most sustainable scheme  in  Kent, targeting BREEAM Excellent and EPA A+ ratings.

Wrenbridge chief executive Ben  Coles said: “Working  with  our partner Bridges, we are excited about developing these schemes and working with  GLP to deliver a best-in-class product backed by a pre-let to Bunzl in Stevenage. The proximity to the motorway connections is unrivalled.”

The sites in Basingstoke and Stevenage will both be built to be net-zero carbon and  Exemplar ESG specifications, with targets to also achieve BREEAM Excellent and EPC A+ ratings.

The Aylesford site will include over 64,583 sq ft of solar panels and air source heat pumps and is expected to avert over 500 tonnes of (02 emissions, while reducing tenants’ energy bills by at least £200,000 per year.

Work has already started at the Stevenage site, while building work at Aylesford will start at the end of the year, following the granting of planning permission during the summer.

Bridges Fund Management partner Henry Pepper said: “At Bridges, we are committed to delivering some of the most sustainable industrial schemes in the UK – not only because it reduces emissions and supports the transition to net zero, but also because it makes the buildings more attractive to potential occupiers. The strong interest we are already seeing  in Stevenage is testament to that.

GLP UK managing director Bruce Tapley added: “We are pleased to partner with Wrenbridge and Bridges Fund Management to fund these two high-quality logistics schemes. Basingstoke and Stevenage are highly complementary to our existing portfolio, and we look forward to welcoming Bunzl to our customer base.”