Buccleuch Property adds Bedfordshire land to its Southern Portfolio
Buccleuch Property has expanded its portfolio with the acquisition of a 4.5 acre site at The Wixams, Bedford from L&Q Estates.
The purchase follows successful recent developments in Dartford, Belvedere and Milton Keynes where Buccleuch Property are working in a joint venture with Wrenbridge Land, the Cambridge based property company.
A previously undeveloped site, Buccleuch Property and Wrenbridge are looking to transform the Bedford site in to a multi-unit warehouse and industrial development.
A planning application is being submitted and it is hoped, subject to planning approval, that construction could begin early in 2020. The scheme aims to provide units ranging from 5,000-30,000 sq ft within a high quality working environment.
The Wixams is a 750 acre mixed use site which will provide over 4,500 homes, five schools and in excess of 300 acres of parkland and has proved a popular location for industrial development. Aldi and B&M are both currently under construction for distribution centres totalling over 1.8m sq ft with completion expected later this year.
Buccleuch, owned by the 10th Duke of Buccleuch, Scotland’s largest landowner, had revenues of £84 million in 2018, with a £3.7 million profit paid out as dividends.
Neil Finnie, Director at Buccleuch Property, said: “The Wixams is the latest of our speculative industrial site purchases and we look forward to working with the Local Planning Authority to deliver a high quality development which can provide both economic value and employment opportunities for the local area.”
Chris White, Director at Wrenbridge Land, said: “The scheme will provide new product at a size range not being catered for in the region. Our focus is to provide a sustainable development in an environment supportive of occupiers need to attract and retain staff.”