Logistics developer Padrock has acquired a 10-acre site in Waltham Cross, Hertfordshire, on which it intends to speculatively build a 205,000 sq ft Grade A urban multi-let industrial (MLI) and logistics development.
The developer has submitted plans to deliver 13 units ranging from 6,500 sq ft to 28,500 sq ft on the Lieutenant Ellis Way site. Padrock is targeting EPC A+ and BREEAM Outstanding ratings for the units, which will be available on a leasehold basis.
Subject to planning, construction of the £110m GDV scheme is expected to commence at the end of the first quarter of 2027, with practical completion anticipated in the first quarter of 2028.
Mark Symonds, founding partner at Padrock, said: “Our plans will deliver much needed, high quality new employment space in a location where the supply of modern industrial accommodation has not kept pace with the calibre of investment around it. The scheme has been designed to accommodate a broad spectrum of occupiers, with a range of unit sizes delivered to an institutional specification and supported by best-in-class sustainability credentials.
“Our ambition at Waltham Cross, as it is across our portfolio, is to create a highly sustainable and well-connected environment in which businesses can grow, employ local people and achieve their commercial objectives. We now look forward to progressing our proposals with Broxbourne Borough Council.”
Padrock was advised on the acquisition by M1 Agency and Simmons & Simmons.
