M&G Real Estate has bought a Cambridge warehouse development from Barwood Capital & Goya Developments for £22m.
Barwood Capital, the Northampton-based real estate investment and development business, with development partner Goya Developments, forward sold its 155,000 sq ft speculative warehouse development scheme at Buckingway Business Park, Cambridge.
The companies said that Buckingway was the largest speculative consented warehouse scheme to be built in Cambridge since 2002 and comprises four warehouse units that are under construction, ranging in size from 25,000 sq ft up to 50,000 sq ft. They are due to complete in February 2018.
A spokesman for M&G Real Estate said: “The property is a good strategic fit for M&G Real Estate, which believes there remains an acute lack of supply of modern, grade-A industrial units of this small to mid-box size range for occupiers in this South East location. This investment further supports M&G’s strategy to access prime, well-specified and located industrial assets, in core locations across the UK.”
Bidwells and JLL acted for Barwood Capital; Aspect Property Consultants acted for M&G. Bidwells, Cheffins and Savills are letting agents for the scheme.
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