Railpen, one of the largest pension managers in the UK, has been granted planning consent by Hertsmere Borough Council for a single 11,148m2 logistics facility at South Mimms. The planning committee voted unanimously in support of the development, which is situated adjacent to the A1(M)/M25 junction (M25 junction 23).
The consented plans, which will be delivered with Railpen’s development partner, Wrenbridge, will create a highly sustainable headquarters logistics facility in a super prime location. The proposals are targeting EPC A+, BREEAM Outstanding and 30% Biodiversity Net Gain. Large water features, wildflower meadows, footpaths (on and off-site), and an orchard will all be established as part of the development, creating an excellent place to work with staff well-being high on the agenda.
The proposed scheme will benefit from a 70m yard, 15m eaves and Railpen and Wrenbridge’s latest high-quality specification. Positioned outside of the ULEZ zone, the site offers the opportunity for a last-mile facility to switch to electric transport, able to service London. The speculative project will create around 170 long-term jobs and significant jobs during construction.
Alastair Dawson, Senior Investment and Asset Manager at Railpen, said “South Mimms will be the latest addition to Railpen’s portfolio of premium grade logistics developments delivered in partnership with Wrenbridge. Reflecting Railpen’s strategy of creating clusters of innovative high-quality assets that help businesses thrive, each has the highest sustainability and wellbeing standards, has been designed to reflect occupier needs, and is located in strategically significant locations around the M25.”
Will Jarman, Associate Director at Wrenbridge, added: “We are committed to delivering the best of the best buildings and this project really thinks outside the box. We have left no stone unturned to ensure this facility is best-in-class to support the site’s unrivalled location, specification and wellbeing credentials. We are delighted to receive such strong support for the South Mimms facility, and are now focused on delivering this outstanding facility and the many benefits it will bring.”
South Mimms will join Railpen’s existing logistics facilities in Waltham Cross and Dartford, with all three sharing the same characteristics and developed in partnership with Wrenbridge. In addition, Railpen received consent in October 2023 for the €35.1m redevelopment of the Castle Estate, which forms part of the Cressex Business Park in High Wycombe.
Avison Young, Adroit and Savills acted for Railpen and Wrenbridge.
Image provided by Aver PR.
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