RPMI Railpen has added a nine-acre warehouse development site in the UK to its property portfolio.
The in-house manager for the UK’s £30bn (€35.5bn) railways pension scheme said it acquired the site from Dartford Borough Council and Prologis for an undisclosed sum.
The acquired site is at The Bridge, a 1.8m sqft mixed-use development which currently provides commercial accommodation for occupiers such as Mercedes, DHL, Sainsbury’s and Network Rail.
Railpen said its development partner Wrenbridge will develop the newly acquired site as well as the recently acquired 5.85-acre site in Waltham Cross for warehouse and logistics use.
Alastair Dawson, senior asset manager at RPMI Railpen, said: “This acquisition reflects the strategic and informed approach which we take to increasing development exposure in our property portfolio.
“We look forward to working closely with Wrenbridge on our Dartford and Waltham Cross sites, the combined 14 acres of development will deliver the future returns for our 350,000 members.”
Jeff Wilson, director at Wrenbridge, said: “We are delighted to announce this major acquisition in Dartford which grows our warehouse development pipeline with Railpen.
“This will be a highly sustainable development with renewable energy from photovoltaic arrays, electric vehicle charging points and highly efficient insulation, lighting and lifts.”