Wrenbridge and Bridges Fund Management have acquired a distribution facility in Letchworth to develop a £50m logistics hub.
The 6.5-acre site was purchased from Tesco and Letchworth Garden City Heritage Foundation.
The joint venture plans to transform the space to create a 130,000 sq ft scheme comprising three warehouses. The facilities will target EPC A+ and BREEAM Outstanding ratings.
Plans will be submitted to the local council next month. If approved, the partners have proposed to start work on site later this year with completion targeted in mid-2026.
The deal marks the jv’s fifth acquisition, with a total value of more than £300m.
JLL acted for Tesco and Letchworth Garden City Heritage Foundation. Savills introduced the site to Wrenbridge and provided occupational advice. Forsters provided legal advice on the purchase.
Image © Wrenbridge
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