Wrenbridge and Palmer Capital acquire two acres in Ruislip
Wrenbridge and Palmer Capital are delighted to announce the acquisition of a site of two acres in Ruislip, which is located within close proximity to the A40. Planning has been submitted to speculatively develop a 47,000 sq ft industrial scheme comprising seven units, ranging from c. 2,500 sq ft to c. 15,000 sq ft. The scheme is funded through the Palmer Capital Development Fund IV, a programmatic venture managed exclusively on behalf of clients of CBRE Global Investment Partners (‘CBRE GIP’).
The scheme will aim to target a range of occupiers from traditional industrial operators, last mile delivery, trade counter, SME’s and dark kitchens and the range of unit sizes will offer flexibility to these different businesses. Wrenbridge have also taken in to consideration the long term future of the buildings and included up to date design elements such as electric car bays, cycle parking with showers in each unit and photo voltaic panels. The units are targeting a BREEAM ‘excellent’ rating. The news is welcome in an undersupplied local market, and is reflective of confidence in the local economy despite Brexit.
Ben Coles of Wrenbridge commented,
“We are very excited to be delivering a new scheme in such a strong location along the A40 where there has been a lack of new product to the market for a number of years. This scheme brings our total industrial pipeline to 1.5m sq ft being delivered over the next 2/3 years.”
Steve Wright of Palmer Capital noted,
“Wrenbridge have an excellent and proven track record of delivering superior quality space in tightly constrained markets which delivers on our investment thesis of creating modern and flexible accommodation for occupiers’ as well as our corporate ESG targets.”