Wrenbridge and a subsidiary of an affiliate advised by Morgan Stanley Real Estate Investing (MSREI) have acquired a prime, five-acre site in Waltham Cross, a town in the Borough of Broxbourne, Hertfordshire, England, located approximately 12 miles north of central London, with a 13-month leaseback to the vendor.
The site, which had been on Wrenbridge’s radar for five years prior to the acquisition, benefits from instant access to major roadways including the M25, A10 and M11 and is situated within the well-established Lea Valley industrial area within walking distance of Waltham Cross railway station and the Town Centre.
Wrenbridge and MSREI intend to develop a new, high-quality logistics scheme comprising three units totaling more than 116,000 square feet and targeting a BREEAM Excellent rating. Planning is due to be submitted later this year with an aim to start on site in the second quarter of next year.
