Palmer Capital’s property companies have been on a roll recently, with award nominations coming through on the regular. Wrenbridge Land are the latest to be shortlisted for another award; this time for the IAS Awards.
Wrenbridge’s scheme Quadron, Dartford, situated on Plot 4, The Bridge, Dartford has been nominated for the IAS title of Deal of the Year (under 75,000 sq ft).
The scheme encompasses 41,500 sq ft which has been pre-let to Network Rail, with completion due following the completion of the works. Wrenbridge and Buccleuch completed the purchase of Plot 4, Dartford in June 2018 and submitted a planning application for a four-unit scheme. Throughout the construction process the scheme attracted consistently strong occupational interest and in late 2018 Network Rail asked for a proposal to take a pre-let on the whole scheme. The pre-let to Network Rail exchanged in April 2019 with completion to follow in Summer 2019 when the works completed. This deal represents an excellent example of buying a site in a prime location, obtaining a planning permission quickly, having the conviction to build it speculatively and then attracting an occupier to a great product resulting in a pre-let.
This project marks the fifth deal Buccleuch and Wrenbridge have done together and the third speculative warehouse deal in the south-east following success with a 50,000 sq ft warehouse in Rainham and a 68,000 sq ft warehouse scheme in Belvedere.
The site will benefit from sustainable features such as low energy internal lighting with PIR daylight control, low energy high efficiency external LED lighting, electric charging points for designated car parking spaces,15% roof lights to the warehouse areas, BREEAM Very Good and an Energy Performance Certificate (EPC) A.
A huge well done to Wrenbridge on having this very deserving scheme be nominated for the IAS Deal of the Year title, and we wish them the best of luck for the big reveal!