Astral and Blackstone are to speculatively build their 465,000 sq ft Mammoth in Hemel Hempstead.
The site, formerly the Buncefield Oil Terminal, now occupies 21.5 acres after adjoining land was acquired from Chevron at around £1m per acre. Construction will start on 7 February, and quoting rents will be £7.95 per sq ft. Lambert Smith Hampton and Holley Blake will be marketing the scheme.
Astral also has plans for 500,000 sq ft speculative schemes at two sites it purchased last year Hartland Park in Farnborough and the former Pirelli site in Erith.
Meanwhile, the Milton Keynes Partnership Committee has said it is “minded to approve” Gazeley’s outline application for 3.4m sq ft of industrial and distribution space, a joint venture with Land Securities.
The developers expect to achieve prelets for the scheme, which is adjacent to the M1 motorway between junctions 13 and 14.
References: EGi News 28/01/05
