Padrock has submitted plans to speculatively develop a 245,000 sq ft Grade A urban multi-let industrial (MLI) and logistics scheme in Elstree, Hertfordshire.
The development, which will be built on a 17-acre brownfield site, will comprise 13 units ranging from 10,500 sq ft to 130,000 sq ft and have a GDV of circa £120m.
The site, which is located adjacent to the established Centennial Park business estate in Elstree, is strategically positioned next to the A1, three miles from the M1 and six miles from the M25. Padrock is targeting BREEAM Outstanding and EPC A+ ratings for the units.
Mark Symonds, founding partner at Padrock, said: “Our plans will provide Elstree with a highly sustainable economic asset that will help satisfy the latent demand in the region for high-specification, new-build urban MLI accommodation. Our scheme will appeal to a wide range of occupiers due to the versatility and flexibility of our proposals and the diversity of tenants we would hope to attract would be one of its strengths.
“With all of our developments we want to create outstanding sustainable environments with excellent connectivity for businesses to grow, employ people and achieve their commercial objectives. We intend for our Elstree scheme to be another great example of Padrock’s distinct approach to development and we now look forward to our plans being heard at committee.”
