A developer has acquired a pair of industrial sites in Berkshire and Surrey with plans to bring forward schemes spanning a combined 158,000 sq ft and gross development value (GDV) of £50m.
The sites purchased by Chichester-based Kingsbridge are in Thatcham, Berkshire and Horley, near Gatwick, Surrey.
The four-acre freehold site at Colthrop Lane in Thatcham is currently occupied by 1980s office buildings with vacant possession.
Kingsbridge has detailed planning consent from West Berkshire Council for demolition and redevelopment to provide two standalone warehouse buildings at 40,742 sq ft and 29,870 sq ft, both with unrestricted B8/B2 use class and a GDV of £23m.
The site fronts the A4 Bath Road and has strong rail links.
Kingsbridge’s advisers in the transaction were Hatch Real Estate and Gowling WLG. LSH and Freeths acted for the vendor.
The site at Cross Oak Lane in Horley, North Gatwick also spans four acres, with planning permission for an industrial and logistics scheme at a GDV of £30m.
It benefits from consent granted by Reigate & Banstead Borough Council for the construction of two industrial units comprising 56,959 sq ft and 30,793 sq ft.
With demolition works complete, and pre-commencement conditions discharged, Kingsbridge intends to bring forward the approved scheme with minor amendments.
The start of on-site works is targeted for June, with practical completion expected in the first quarter of 2027.
Wilten Construction has been appointed as the main contractor, continuing a partnership with Kingsbridge that has completed projects including a logistics scheme at Ferne Park in Fareham, Hampshire and one under construction at Sopers Lane in Poole, Dorset.
Kingsbridge’s advisers in the transaction were LSH and Freeths. Tudor Real Estate and Greenberg Traurig acted for the vendor.
All units will be developed with green credentials including solar panels and EV charging points, targeting BREEAM Excellent and EPC A ratings for sustainability and energy efficiency.
Greg Lukasiewicz, investment director at Kingsbridge, said: “Our acquisition of these two key industrial sites, both with planning in place, reflect our commitment to delivering high-quality, sustainable developments that support the prosperity of the south, create jobs, and meet the needs of employers.
“We are looking forward to getting started on both sites as soon as possible and to delivering both schemes in 2027.”