UK pension fund manager Railpen has secured planning permission from the Hertsmere Borough Council to build a large-scale logistics facility in South Mimms.
Railpen and its development partner, Wrenbridge plan to build a highly sustainable 11,148 m2 logistics facility near the intersection of major highways A1 (M) and M25.
The logistics asset will be designed to meet the highest environmental standards, targeting an EPC A+ rating, BREEAM Outstanding certification, and a 30% biodiversity net gain. The development will include extensive landscaping with water features, wildflower meadows, and walking paths.
The proposed logistics centre will feature modern amenities, including a 70-metre yard and 15-metre ceiling height. Located outside of London's Ultra Low Emission Zone (ULEZ), the site is well-suited for electric vehicle operations, making it ideal for serving the London market.
The development will create approximately 170 permanent jobs and contribute £7.2 mln (€8.5 mln) annually to Hertfordshire's economy and generate nearly £750,000 (€85,310) in annual business rates.
Alastair Dawson, senior investment and asset manager at Railpen, said: ‘South Mimms will be the latest addition to Railpen’s portfolio of premium grade logistics developments delivered in partnership with Wrenbridge. Reflecting Railpen’s strategy of creating clusters of innovative high quality assets that help businesses thrive, each has the highest sustainability and wellbeing standards, have been designed to reflect occupier needs, and are located in strategically significant locations around the M25.’
Will Jarman, associate director at Wrenbridge, added: 2018We have left no stone unturned to ensure this facility is best-in-class to support the site’s unrivalled location, specification and wellbeing credentials.’
South Mimms will become the third logistics facility in Railpen's portfolio, joining existing centres in Waltham Cross and Dartford. All three facilities share similar features and were developed in partnership with Wrenbridge.
In addition, Railpen obtained planning permission in October 2023 for a £30 mln (E35 mln) redevelopment project at the Castle Estate, located within the Cressex Business Park in High Wycombe.
Avison Young, Adroit, and Savills represented Railpen and Wrenbridge in the transaction.
