Wrenbridge and Bridges Fund Management, backed by GLP, have appointed Glencar to deliver a highly sustainable logistics scheme in Basingstoke, with construction of a 209,461 sq ft warehouse now underway.
The scheme, which will be named G-Park Basingstoke, is being forward-funded by GLP, a leading global builder, owner, developer and operator of logistics real estate, data centres, renewable energy and related technologies.
The development will be built to the highest sustainability specifications, targeting an EPC A+ and BREEAM ‘Excellent’ rating, together with a ‘Net Zero Target Build’. It is expected to be available for occupation by Q1 2024.
The site, on Priestley Road, is part of the established 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 and offers an unrivalled opportunity to service the London and wider South-East markets.
To celebrate the commencement of works, a ground-breaking ceremony was held on site and attended by executives from Glencar, GLP, specialist investor Bridges and Wrenbridge, the leading property company.
Glencar is demolishing the existing office building, which was previously owned by pharmaceutical company Eli Lilly, while also undertaking site clearance and enabling works. Steelwork is expected to begin by the end of May this year.
Letting agents on the Basingstoke scheme are Hollis Hockley, Cushman & Wakefield, Savills and CBRE.
Commenting on the appointment, 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, said: “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, Chief Executive 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, commented: “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.”