Investec Realis and Wrenbridge have acquired a three-acre development site in north Cambridge, with plans for around 80,000 sq ft of commercial space.
The acquisition is the fourth site secured by the partnership in the past 12 months and its second in Cambridge.
The joint venture’s acquisitions now have a combined value of approximately £150 million, with the latest project carrying an estimated gross development value of around £50 million.
The proposed scheme comprises four flexible industrial units, which could be combined into a larger single building depending on occupier requirements.
The space is being designed for a range of uses, including manufacturing, logistics, R&D, laboratory and office accommodation.
The site is located within the north Cambridge innovation and technology cluster, where the partnership said the development would respond to continuing occupier demand for high-quality, flexible space.
Tom Punch, investment director at Investec Realis, says: “The strength of Cambridge’s long-term economic and demographic drivers makes it one of the UK’s most attractive investment markets. We’re pleased to be partnering with Wrenbridge once again on a high-conviction acquisition.”
Harry Gibson, development director at Wrenbridge, adds: “Cambridge continues to be one of the most attractive markets in the UK for innovation and growing businesses. It’s great to be delivering another deal in partnership with Investec, taking our combined investment to c. £150m.
“This latest acquisition allows us to bring forward high quality, flexible space capable of supporting a wide range of occupiers in the north Cambridge cluster.”
