Paloma Capital joint venture sets out plans for Bedford industrial site
Investor Paloma Capital and development partner Graftongate have bought a 5.77-acre industrial site on the multi-let Elm Farm Industrial Estate in Bedfordshire for an undisclosed sum.
The development land sits on Caxton Road, near Bedford town centre and adjacent to the A4280 dual carriageway.
The partners are looking to draw up plans for up to 100,000 sq ft for a trade and mid-box scheme. The gross development value of the project is expected to be around £25m.
Investor Paloma Capital and development partner Graftongate have bought a 5.77-acre industrial site on the multi-let Elm Farm Industrial Estate in Bedfordshire for an undisclosed sum.
The development land sits on Caxton Road, near Bedford town centre and adjacent to the A4280 dual carriageway.
The partners are looking to draw up plans for up to 100,000 sq ft for a trade and mid-box scheme. The gross development value of the project is expected to be around £25m.
It will be the fourth development for the joint venture partners, which have delivered Banbury 200, Exeter Trade Park in Marsh Barton and Urban Logistics Park in Tottenham, north London.
Charles Lunnon, director at Paloma, said: “This site offers an opportunity to provide a range of unit sizes to suit both local and national occupiers.”
Alex Thomason, director at Graftongate, said: “Together, we have gained a reputation for transforming under-used, well-connected sites into first-class industrial and logistics locations.
“Caxton Road offers an opportunity for a prime commercial redevelopment in close proximity to Bedford and the M1, where there is strong occupier demand.”
Paloma and Graftongate were represented by Colliers on the deal.
Image from Paloma Capital/Graftongate
