Wrenbridge Land and Buccleuch Property has expanded its speculative industrial development portfolio with the recent unconditional acquisition of a 4.5 acre site at The Wixams, Bedford, which was previously owned by L&Q Estates.
The purchase follows on from successful recent developments in Dartford, Belvedere and Milton Keynes and Buccleuch Property are working in joint venture with Wrenbridge Land, the Cambridge based property company.
A previously undeveloped site, Buccleuch Property and Wrenbridge are looking to transform the 4.5 acres in to a multi-unit warehouse and industrial development which will appeal to both local companies and inward investors looking for strategically located and high quality product. A planning application will be submitted shortly and it is hoped, subject to planning approval, that construction could begin early in 2020. The scheme aims to provide units ranging from 5,000-30,000 sq ft within a high quality working environment.
The Wixams is a 750 acre mixed use site which will provide over 4,500 homes, five schools and in excess of 300 acres of parkland and has proved a popular location for industrial development. Aldi and B&M are both currently under construction for distribution centres totalling over 1.8m sq ft with completion expected later this year.
Neil Finnie, Director at Buccleuch Property, said:
“The Wixams is the latest of our speculative industrial site purchases and we look forward to working with the Local Planning Authority to deliver a high quality development which can provide both economic value and employment opportunities for the local area.”
Chris White, Director at Wrenbridge Land, said:
“The scheme will provide new product at a size range not being catered for in the region. Our focus is to provide a sustainable development in an environment supportive of occupiers need to attract and retain staff.”
Adroit Real Estate Advisors and Colliers are acting for Buccleuch/Wrenbridge.
Originally published by Indigo in August 2019.