Legal & General Property (LGP), on behalf of its Linked Life Fund, announces that it has submitted a planning application for a new 77,000 ft² (approx 7,153 m²) single warehouse unit on Lovelace Road, Bracknell, which has been named Lovelace Park.
LGP plans to develop a warehouse unit with ancillary office space and a secure service yard on the 3.88 ac (approx 1.57 ha) site. Located on Lovelace Road in the southern industrial area of Bracknell. Lovelace Park benefits from excellent transport links, including easy access to Junction 10 of the M4.
The site was previously occupied by Honeywell. Nearby occupiers include Waitrose, BMW, Panasonic, Hyundai and Fujitsu.
The proposed development demonstrates Legal & General's continued investment into Bracknell, with its commitment to the regeneration of Bracknell town center, the recent opening of the Waitrose store and further planned investment in the scheme.
Craig Westmacott, Senior Fund Manager of the Linked Life Fund at Legal & General Property, comments: "Our carefully drawn up plans aim to bring this redundant site back into use, meeting occupiers' demand for new, well located, high quality space.
"A number of international businesses have already chosen the southern industrial area of Bracknell for its proximity to a talented, skilled workforce, and easy road and rail access to Heathrow and London."
Vail Williams and Strutt & Parker are advising on the scheme.
Source: FTI Consulting