Investec Bank’s real estate equity platform REALIS has partnered with Wrenbridge to acquire a Cambridge development site – the fourth secured by the partnership in the past 12 months.
Investec REALIS and Wrenbridge North Cambridge
Four flexible industrial units are planned for the three-acre site, totalling 80,000 sq ft and designed to accommodate a range of uses including manufacturing, logistics, R&D, laboratory and office space.
The proposed units could also be combined to create a larger single building, depending on occupier requirements.
The project has an estimated gross development value of around £50m, taking the combined value of acquisitions by the partnership to around £150m.
Tom Punch, investment director at Investec REALIS, said: “The strength of Cambridge’s long-term economic and demographic drivers makes it one of the UK’s most attractive investment markets.”
Harry Gibson, development director at Wrenbridge, added: “Cambridge continues to be one of the most attractive markets in the UK for innovation and growing businesses. 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.”
This latest acquisition for Wrenbridge and Investec REALIS builds on the strong momentum of the partnership, which has also secured another development site in Cambridge, plus sites in South London and Harlow, over the past year.
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