February 23, 2021
Wrenbridge and Bridges Fund Management have acquired a strategic employment site on North Road, Stevenage to develop over 200,000 sq ft of logistics/industrial space.
The JV Partners have purchased the 16.5 acre site which sits 0.5 miles to the west of Junction (8) of the A1(M) and are planning to deliver a scheme with the potential to create 750-1000 jobs.
The site is allocated for employment use, Wrenbridge and Bridges are looking to submit a planning application in April. The partners are working towards delivering a high-quality industrial and logistics scheme that will support economic growth in the region. The proposed new scheme will be highly sustainable – with a target BREEAM rating of ‘Excellent’.
Ben Coles, Chief Executive of Wrenbridge, comments:
“This is a key employment site in Stevenage and we look forward to working with the Council and other key stakeholders to bring forward a scheme which can make a significant contribution to the local economy through job creation. We will be delivering high-quality industrial and logistics accommodation to meet existing and future market demand.”
Henry Pepper, Investment Director at Bridges Fund Management, comments: “This important site can play a key role in meeting industrial and logistics demand and supporting the growth of the local economy. We are excited by the opportunity to create a highly sustainable development that will minimise environmental impact while maximising wellbeing and cost savings for future tenants.”
About Bridges Fund Management
Bridges Fund Management invests in the transition to a more inclusive and sustainable economy. Its specialist property funds invest opportunistically in growth locations and sectors that are well-placed to benefit from changing demographics and societal needs, driving value through physical and operational improvements. Bridges is also a market-leader in implementing sustainability features that reduce costs, improve valuations and future-proof real estate assets.
About Wrenbridge Land Limited
Wrenbridge is a leading UK property company with offices in Cambridge and London. Founded in 1993, Wrenbridge have been successfully developing and investing in properties across the UK for 28 years. Geographically their emphasis is on London, East Anglia, Home Counties and the South East. Wrenbridge Sport was started in 2012 and carries out stadia and leisure projects across the UK either funded directly or in JV’s with sporting clubs or local authorities.
The total portfolio stands at £1.6 billion.