RPMI Railpen (Railpen), the investment manager for the £30bn railways pension schemes, and Wrenbridge have achieved planning consent for a 185,000 sq ft warehouse development in Dartford, set to create approximately 500 new jobs.
The 9-acre site, which was acquired by Railpen in February 2020, will comprise five Grade A warehouse units ranging in size from 13,000 sq ft to 73,000 sq ft. Work on the new development is scheduled to start in October, and due for completion in June 2021.
The new development will form part of The Bridge, a 1.8m sq ft mixed-use development which currently provides commercial accommodation for occupiers such as Mercedes, DHL, Sainsbury’s and Network Rail.
The site is easily accessible from Central London and other areas of Kent via major motorway and railway links, and benefits from close proximity to Junction 1A of the M25 corridor and City Airport. The new buildings will also have excellent sustainability credentials, with Railpen and Wrenbridge targeting a BREEAM Excellent rating and Planet Mark Certification.
Alastair Dawson, Senior Asset Manager at Railpen, commented: “Despite the challenges presented by the current Covid-19 crisis, we are pleased to be able to efficiently move forward with this major project. Achieving consent for Dartford is a great step in expanding Railpen’s industrial portfolio, and the subsequent creation of jobs reflects the keen focus on social aspects of our investment strategy.”
Jeff Wilson, Director at Wrenbridge, added: “Securing planning consent in such a short period of time is testament to our innovative and highly sustainable development plans. The scheme, and those working within it, will benefit from a range of high quality environmentally advanced technologies all within a landscaped setting with amenity on the doorstep.”
The newly approved Dartford development joins a wide range of real estate assets owned and managed by RPMI Railpen, including a new scheme of six high specification warehouse units in Waltham Cross, also in partnership with Wrenbridge, which is due to complete in March 2021.
CBRE, Cushmam & Wakefield and Glenny have been appointed as the leasing agents for the new development.