Property company Wrenbridge and specialist investor Bridges Fund Management have appointed Glencar to implement a sustainable logistics project in Basingstoke.
Global logistics specialist GLP is providing forward-funding for the G-Park Basingstoke which will consist of a 19,460 m2 warehouse due for completion by Q1 2024.
Glencar is demolishing the current office building, formerly owned by pharmaceutical company Eli Lilly, while steelworks will begin by the end of May.
The property will be constructed in accordance with the highest sustainability specifications, targeting an EPC A+ and BREEAM ‘Excellent’ rating, as well as ‘Net Zero Target Build’.
Glencar managing director, London and South, Roy Jones, said: ‘We are very happy to once again be working for Wrenbridge and its partners on this impressive new modern logistics development. The development will provide a best-in-class working environment with a number of highly sustainable initiatives built in to align with the needs of a modern occupier. We are targeting a BREEAM Excellent scheme with Net Zero Target Build. This project serves as our second development to date for our longstanding and highly valued customer Wrenbridge and we look forward to working with the full project team.’
Adrienne Howells, senior development director at GLP, added: ‘We’re excited to be working on such a key development for Basingstoke, delivering a modern, high-specification logistics facility. G-Park Basingstoke will fill a gap for first-class logistics space in this region of the UK and we expect to see strong demand from customers. We look forward to working in partnership with the project team and local stakeholders to deliver a unique facility which meets the occupier’s needs.’
Ben Coles, CEO of Wrenbridge, commented: ‘Working with our partners, Bridges, we are excited about delivering this scheme and working with GLP to deliver best-in-class product in a key location to meet the occupier demands.’
Henry Pepper, partner of Bridges Fund Management, stated: ‘Across the Bridges platform, we’re developing some of the UK’s most sustainable industrial buildings. We intend this site in Basingstoke to be another great example of that, and we’re looking forward to working with Glencar to make these plans a reality.’
The Priestley Road site is part of the Houndmills Industrial Area, which is home to major occupiers including Sainsburys, Royal Mail, XPO Logistics, Leverton Clarke and GAME.
It benefits from excellent infrastructure links, enabling tenants to service the London and wider South-East markets.
The letting agents of G-Park Basingstoke are Hollis Hockley, Cushman & Wakefield, Savills and CBRE.
