Barwood Capital has acquired a prime two-acre freehold site in Stevenage from BlueBird Land, to develop a £12m warehouse scheme.
The acquisition by the UK-based real estate investment and development firm was as part of its Growth Fund V.
The strategic site, just off Gunnels Wood Road in Stevenage’s principal employment area, is currently an obsolete office with consent for an industrial unit totalling 36,000 sq ft.
The development, which will take place jointly with BlueBird Land, will target BREEAM Excellent and practical completion is anticipated in Q4 2026.
Jonny Ellerington, investment director for Barwood Capital, said: “We are delighted to secure this strategically located site in Stevenage, which offers an outstanding opportunity to deliver another Grade A industrial scheme under Growth Fund V.
“This development will strengthen our portfolio with a further high-quality asset that meets strong environmental standards, addressing the pressing demand in a market which is currently undersupplied.
“By working alongside BlueBird Land, we are committed to creating a sustainable, future-proofed asset that will meet the needs of occupiers and support employment in the area.”
Jeff Wilson, co-founder of BlueBird Land, said: “Having acquired the site in January 2025, we submitted a planning application in March and received unanimous support from members at the July planning committee.”
“We are excited to have completed the sale, and to team up with Barwood to deliver this best-in-class high quality urban logistics unit.”
Barwood Capital was advised by DTRE and Forsters. BlueBird Land was advised by Joiner Cummings, Adroit Real Estate Advisors and Hill Dickinson.
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