RPMI Railpen has completed the purchase of 5.85 acres of land in Waltham Cross, London. The site will be developed for a new, Grade A, speculative warehouse and logistics scheme with Wrenbridge acting as a development partner. The site benefits from close proximity to major roadways including the M25, A10 and M11, and is immediately adjacent to a railway link with regular 27-minute services to London Liverpool Street.
Alastair Dawson, Senior Asset Manager at RPMI Railpen, commented on the purchase: “The purchase of this Waltham Cross site reflects our appetite and ability to commit to large scale speculative developments. This is a great addition to our industrial portfolio which will increase our development exposure, while also contributing to our overall fund growth target. Primarily though, this executes our successful risk-return strategy to enable us to pay our 350,000 members pensions securely, affordably and sustainably.”
Jeff Wilson, Director at Wrenbridge, commented: “This is a strategic site which we anticipate will have exciting occupational demand. A planning application will go in this year, with construction to commence next year.”
Ben Coles, Chief Executive at Wrenbridge Land, added: “We are delighted to complete this deal with Railpen. It is hopefully the start of a series of high profile large projects across the South East.”