An industrial site near Bedford town centre has been acquired by private equity investor Paloma Capital and its development partner Graftongate for a £25 million scheme.
The 5.77-acre site, on the Elm Farm industrial estate in Caxton Road, near the A4280, is earmarked for a trade and mid-box scheme. It can accommodate unit sizes of up to 100,000 sq ft.
It will be the fourth development between the joint ventures partners, following Banbury 200, Exeter Trade Park in Marsh Barton and Urban Logistics Park, Tottenham.
Charles Lunnon, director of Paloma Capital, said: “This well located site offers an excellent opportunity to provide a range of unit sizes to suit both local and national occupiers. We look forward to working with Graftongate to deliver an excellent product to meet the occupational demand in this location.”
Alex Thomason, director of Graftongate, said: “We look forward to furthering our relationship with Paloma Capital through our fourth JV development. Together, we have gained a reputation for transforming underused, well-connected sites, into first class industrial and logistics locations.
“Caxton Road offers an excellent opportunity for a prime commercial redevelopment in close proximity to Bedford and the M1, where there is strong occupier demand.”
Paloma and Graftongate were represented by Colliers International.
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