Wrenbridge and Bridges Fund Management have acquired a 5.2-acre logistics development site in Hemel Hempstead with a view to developing a £50m GDV scheme.
The joint venture partners are targeting BREEAM Outstanding, an EPC A+ rating and net zero carbon in operation accreditation for the 100,000 sq ft scheme, which will be known as Click Hemel and is located on Boundary Way.
Wrenbridge and Bridges have secured vacant possession of the site and submitted a planning application. They are targeting a completion date of Q4 2025.
Jamie Garrett, director at Wrenbridge, said: “We are thrilled to have acquired this prime site in Hemel and to have the opportunity to work with Bridges again. Given the close proximity to junction eight of the M1 and drive-time to London, this scheme will bring a much-needed modern, highly sustainable development to this area, where there is a clear lack of supply within this size range.”
Henry Pepper, partner at Bridges Fund Management, added: “This is an exciting opportunity to reinvigorate a brownfield employment site to deliver a best-in-class, highly sustainable logistics development, which will help to meet the strong local demand for logistics space to serve London and the South East region.”
