Cambridge-based development company Wrenbridge has paid just under £2m for investments as part of its plan to develop more than 371,600 sq m (4m sq ft) of business space around the UK.
In Luton, Wrenbridge and S H Pratt bought a 1.8 ha (4.5 acre) site in Laporte Way from Royal Mail for £1m. The developer will build a 5,109.5 sq m (55,000 sq ft) processing unit for the banana ripening company.
And in a second deal Wrenbridge has paid British Telecom £825,000 for a 2,508 sq m (27,000 sq ft) office and warehouse on 0.9 hectare (2.2 acre) on the corner of Coldhams Lane and Cromwell Road in Cambridge. Wrenbridge will, subject to planning permission, refurbish the building to provide 2,824 sq m (30,409 sq ft) of space with 152 parking spaces.
Russel Tame, associate director at Wrenbridge, said the Cambridge site has potential for leisure use.
Wrenbridge owns land throughout the Home Counties, East Midlands and East Anglia. Over the last 12 months, pre-let development of more than 37,160 sq m (400,000 sq ft) has either been completed or is under construction.
Savills acted for Wrenbridge in the Cambridge deal, while Jones Lang Wootton and Lambert Smith Hampton advised British Telecom.
In the Luton acquisition, Stimpsons advised Wrenbridge and S H Pratt while LSH acted for the Royal Mail.
EGi News 15/04/97
