LGIM Real Assets, acting on behalf of its Managed Property Fund, and development partner Wrenbridge, have secured planning permission to transform a 107,000-square-foot industrial development at Gateway Cambridge in Bar Hill in Cambridge, England.
The latest planning permission is in line with the fund’s strategy to evolve its asset holdings and deploy capital into key growth areas, such as the industrial sector, which have retained strong fundamentals. Despite the economic downturn, the fund has continued to drive forward this mandate and recently also announced the acquisition of a significant urban logistics scheme in Basildon for €26 million ($31 million). Once complete, Gateway Cambridge will comprise eight class A units, ranging in size from 3,046 square feet to 45,694 square feet.
Bar Hill is strategically located on the newly improved A14 with excellent connectivity to Cambridge and the M11. The area represents a popular location for industrial occupiers,
