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Wrenbridge and Bridges Fund Management have acquired a strategic employment site on North Road, Stevenage to develop over 200,000 sq ft of logistics/industrial space.
The JV Partners have purchased the 16.5 acre site which sits 0.5 miles to the west of Junction 8 of the A1(M) and are planning to deliver a scheme with the potential to create 750-1000 jobs.
The site is allocated for employment use, Wrenbridge and Bridges are looking to submit a planning application in April. The partners are working towards delivering a high-quality industrial and logistics scheme that will support economic growth in the region. The proposed new scheme will be highly sustainable – with a target BREEAM rating of ‘Excellent’.
Ben Coles, Chief Executive of Wrenbridge, comments: “This is a key employment site in Stevenage and we look forward to working with the Council and other key stakeholders to bring forward a scheme which can make a significant contribution to the local economy through job creation. We will be delivering high-quality industrial and logistics accommodation to meet existing and future market demand.”
Henry Pepper, Investment Director at Bridges Fund Management, comments: “This important site can play a key role in meeting industrial and logistics demand and supporting the growth of the local economy. We are excited by the opportunity to create a highly sustainable development that will minimise environmental impact while maximising wellbeing and cost savings for future tenants.”