Joint venture partners JP Morgan Asset Management and Graftongate have submitted a planning application for a 130,939 sq ft warehouse in Bracknell, having exchanged contracts on the acquisition of a 5.7-acre site.
Located on Ellesfield Avenue within Bracknell’s southern business area, the site is located less than one mile from the A329(M), providing access to Junction 10 of the M4. The site is currently occupied by a three-storey office building and adjoining two-storey training facility.
Alex Thomason, director at Graftongate, said: “Our partnership with JP Morgan Asset Management continues to identify opportunities in locations where occupier demand significantly outweighs the availability of modern space. With a limited development pipeline and low supply of Grade A industrial stock across Bracknell and the wider Thames Valley, we believe this scheme is well positioned to serve the market. We look forward to completing the acquisition and progressing the development.”
JP Morgan and Graftongate were represented by Hollis Hockley. Cushman & Wakefield acted for the vendor.
