Raliway pension fund Railpen has been granted planning consent by Hertsmere Borough Council for a single 120,000 sq ft logistics building at South Mimms.
The council’s planning committee voted unanimously in support of the development, which is adjacent to the J23 of the M25.
The consented plans, which will be delivered with Railpen’s development partner, Wrenbridge, will create a highly sustainable headquarters logistics scheme.
The proposals target EPC A+, BREEAM Outstanding and 30 per cent biodiversity net gain. Large water features, wildflower meadows, footpaths (on and off site) and an orchard will all be established as part of the development.
Positioned outside the ULEZ zone, the site offers the opportunity for a switch to electric transport for the last mile service London. The speculative project will create around 170 long-term jobs. It is also anticipated to add £7.2 million per year to the Hertfordshire’s economy and generate almost £750,000 in annual business rates.
Alastair Dawson, senior investment and asset manager for Railpen, said “South Mimms will be the latest addition to Railpen’s portfolio of premium grade logistics developments delivered in partnership with Wrenbridge.
“Reflecting Railpen’s strategy of creating clusters of innovative high quality assets that help businesses thrive, each has the highest sustainability and wellbeing standards, have been designed to reflect occupier needs, and are located in strategically significant locations around the M25.”
Will Jarman, associate director at Wrenbridge, said: “We are committed to delivering best of the best buildings and this project really thinks outside of the box. We have left no stone unturned to ensure this facility is best-in-class to support the site’s unrivalled location, specification and wellbeing credentials.
“We are delighted to receive such strong support for the South Mimms facility, and are now focused on delivering this outstanding facility and the many benefits it will bring.”
South Mimms will be one a trio of Railpen’s existing logistics schemes, alongside similar projects in Waltham Cross and Dartford, which were also developed in partnership with Wrenbridge.
Avison Young, Adroit and Savills acted for Railpen and Wrenbridge.
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