July 26, 2018
Wrenbridge are lapping up the award nominations so far this year, and have received yet another one for the IAS Awards 2018. Wrenbridge have been shortlisted for Developer of the Year. In their 31st year, the IAS Awards remain widely recognised as the industry’s premier networking event, attended by leading owners, occupiers, developers and funders of industrial & logistics real estate, as well as their agents.
Wrenbridge have had an incredibly busy year in the industrial sector securing seven new projects. The company has had 100% planning success rate and has successfully sold two new build schemes prior to practical completion.
Wrenbridge have £1.4m sq. ft. under management with a total GDV of £183.9m with a future 1.58m sq. ft. under offer over 7 schemes.
Wrenbridge have continued to develop and improve their schemes by using the same highly innovative and creative professional team on all theirindustrial projects. Key achievements include:
- The successful purchase, planning permission and forward sale of Axion, Belvedere which is currently on site and due for completion in September 2018.
- The successful purchase and planning permission for Centron, Crawley which is about to start on site and is due for completion in December 2018.
- The completion and sale of Criterion, Belvedere
Criterion has been a notable commercial success. Wrenbridge acquired the 2.15 acre site unconditionally for £1.3m. They subsequently secured planning permission for a 46,500 sq ft speculative unit, which they developed to a high specification including market leading sustainability measures. During construction the property was forward sold to Rockspring for approximately £7.5m.
Other notable achievements include:
- The acquisition of a 2 acre site in Dartford for the development of a new speculative 40,000 sq ft four unit scheme with funding from Buccleuch.
- A new joint venture with a private landowner on 25 acres in Rainham close to the A13 which will add a further 400,000 sq ft to Wrenbridge’s warehouse/logistics pipeline. The end value of the scheme is £80m.
Finally, Wrenbridge secured three new investment acquisitions (in London, Harlow and Leamington Spa) for the Palmer Capital Income Fund with a total value of £31m and an average unexpired term of over 15 years.
Wrenbridge’s commitment to innovation and sustainability is consistent across all their projects. Each of their new schemes incorporate highly efficient photovoltaics, Electric Vehicle Charging Points, 15% roof lights, cycle and shower provision to encourage staff to cycle or run to work where possible, internal and external LED lighting and PIR’s in the offices. Both Axion and Criterion included ecological enhancements to the local area. Each of their schemes has been delivered by the same professional team who continually collaborate to find more efficient methods of delivering the schemes and consistently strive to improve the end product.
For more information on the awards, please visit their site here: https://bit.ly/2JZdI1i