Planning permission for 107,00 sq ft mid box scheme has been given the go ahead in Cambridge.
LGIM Real Assets and development partner Wrenbridge secured planning permission for the scheme at Gateway Cambridge in Bar Hill. Once complete, Gateway Cambridge will comprise of eight Grade A units, ranging in size from 3,046 sq ft to 45,694 sq ft.
This latest planning permission is in line with the fund’s strategy to evolve its asset holdings and deploy capital into key growth areas, such as the industrial sector, which have retained strong fundamentals.
James Feltham, Director at Wrenbridge, added: “The industrial sector continues to thrive, with demand for quality new space outstripping supply. Gateway Cambridge will deliver new units in a size range to cater for a range of occupiers and our focus is to provide a new sustainable development in an environment that will help companies attract and retain staff.”
Bidwells and Savills are joint agents.