Tungsten Properties has acquired the site of a consented industrial and logistics scheme near Reading.
The seven-acre site in Arborfield has outline planning consent to deliver Observer Park – comprising 79,000 sq ft of industrial and logistics space in seven units, ranging from 6,000 sq ft to 17,500 sq ft.
The scheme is off Observer Way, close to Shinfield Studios, just three miles from J11 of the M4. A reserved matters planning application will be submitted imminently.
The project will target BREEAM Excellent and will include solar panels on every unit and EV charging points. It is forecast to create around 100 construction jobs and 79 jobs in operation.
Luke Davenport, associate development director of Tungsten Properties, said: “Observer Park is a well-positioned site close to Junction 11 of the M4 which we will develop to our usual high standard to include sustainability initiatives so that future companies can occupy these spaces as efficiently as possible.
“There is a lack of high-quality small units coming forward in the South-East, particularly under 15,000 sq ft, so this scheme will answer the much-needed demand so that businesses can expand and grow. We look forward to submitting the reserved matters application in the coming days.”
Subject to planning, construction is due to commence later this year.
T5REA acted on behalf of Tungsten Properties while Bidwells and Haslams acted on behalf of the vendor.
© Thames Tap (powered by ukpropertyforums.com).
Sign up to receive our weekly free journal, The Forum here.
