Property developers have bought a site in Stevenage for a £40 million scheme.
Fiera Real Estate and Wrenbridge have purchased a five-acre site on the Pin Green Industrial Estate in an off market transaction, so that they can build a single logistics facility measuring 120,000 sq ft.
Wrenbridge said the location "will draw occupiers exiting London, as well as local businesses looking to upgrade their operations".
Chris Button, head of investment management at Fiera Real Estate, said: "This acquisition demonstrates our confidence in the south-east logistics market and our ability to transact quickly. We can’t wait to get started."
Will Jarman, associate director of Wrenbridge, added: "We are targeting a swift delivery of this project to offer a new HQ building in the heart of the south-east."
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