Firethorn Trust, a real estate investor and developer, has acquired a new 21-acre site at Kingston Park in Peterborough. The real estate investor and developer purchased the site from O&H Properties.
The site is adjacent to existing occupiers including Amazon, IKEA and DART. The site itself offers excellent transport and connectivity and is situated two miles from the A1(M) at Junction 17.
Firethorn plans to develop the existing site into a new 500’000 sq ft logistics park. As the site benefits from an existing employment allocation, planning will begin imminently with delivery of the new project expected in mid-2022.
Kingston Park is Firethorn’s fourth site, joining Northampton Cross in Milton Ham and Ascent Logistics Park in Leighton Buzzard – both due for completion later this year – and follows the recent acquisition of Link Logistics Park in Ellesmere Port, taking the developer’s current development pipeline to 2.15 million sq. ft.
Peter Mather, Partner at Firethorn Trust, said: “Peterborough is one of the fastest growing cities in the UK and has developed into a significant regional commercial location due to its excellent road connectivity and strong labour supply. Our plans to develop a highly specified logistics park are designed to boost investment within the region, as we look to meet increasing occupier demand for quality, modern and sustainable midbox spaces, as well as drive employment opportunities for the local community.
“2020 created unique challenges throughout the industrial sector and we are proud to start the year on such a positive note by bolstering our rapidly growing logistics portfolio. We look forward to increasing our nationwide presence further with a number of additional strategic sites over the coming months.”
Firethorn Trust was advised by LSH and Stephenson Harwood. O&H Properties was represented by Savills and Mills & Reeve.
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