A developer and pension fund has purchased a plot on a major commercial site in Dartford - and announced major plans for development which could create up to 400 jobs.
The firms have snapped up a nine-acre site on The Bridge, a 1.8million sq ft mixed-use development which currently provides commercial facilities for the likes of Sainsbury's, Network Rail, DHL and Mercedes.
The land was sold by Dartford Borough Council and industrial building firm Prologis.
It has been acquired by developer Wrenbridge and RPMI Railpen, the investment manager for the £30bn railways pension scheme.
The acquisition follows Railpen’s recent purchase of 5.85 acres in Waltham Cross. Wrenbridge is acting as development partner for the two sites, to develop both into schemes for speculative warehouse and logistics use.
Now Railpen and Wrenbridge are preparing a planning application for a new development of five detached warehouse units totalling over 180,000 sq ft.
The new development is expected to create approximately 400 new jobs.
Alastair Dawson, senior asset manager at 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, added: “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."