Wrenbridge has acquired a 25-acre logistics development plot in Rainham, Essex, where it is planning to build a £80m warehouse.
This acquisition brings the company’s logistics pipeline to more than 1m sq ft.
Jeff Wilson, director, said: “This is another key site to add to our growing pipeline of South East warehouse and logistics projects. We are open minded about freehold or leasehold deals and can deliver on any size up to 400,000 sq ft. We are seeking to submit a planning application this year and will then decide how much space we deliver speculatively. We will also be seeking pre-lets or pre-sales in the meantime.”
The scheme will be delivered in two to three phases over the next five years and will have an end value of £80m and is likely to create up to 1,500 new jobs.
Avison Young, CBRE and Glenny are advising Wrenbridge.
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