Marshgate group has secured for finding from clients of CBRE Investment Management to speculatively develop a three unit Mid box scheme at its 65-acre Horizon 120 development in Braintree, Essex.
Situated on a 7.7 acres site, the development will comprise three units, ranging from 30,000ft2 to 70,000ft2, and will be developed to BREEAM Very Good. Work will commence in early 2022 with delivery expected in Q4 2022.
These high specification warehouse units will complete Zone C of the total 65-acre Horizon 120 scheme and will see delivery of a total of 425,000ft2 of new development in 2022.
Following the recent transaction on Plot 4, to Aberdeen Standard Investments, is further proof of the attractiveness of this location to investors and occupiers alike.
David Warburton, MD of The Marshgate Group, said: “The market is very short of good quality modern stock, and it is pleasing to see the confidence that CBRE Investment Management, has committed to invest in three new buildings on a speculative basis to meet this demand.”
Knight Frank and Coke Gearing Consulting are joint letting agents.