Private investment and development company FirethornTrust has acquired a 24.5-acre site near Leighton Buzzard, Bedfordshire, marking its second foray in the logistic sector.
The company has bought Phases Two and Three of Apex Park from Pears Property in an off-market transaction.
Apex Park is a new logistic park near the M1 and phases two and three have outline planning consent for around 460,000 sq ft warehouse space.
FirethornTrust plans to speculatively development once detailed planning consent is achieved. Units will range from 12,000 sq ft to 130,000 sq ft and will be delivered within 12 months.
Peter Mather of FirethornTrust, said: “This acquisition is in line with our current strategy to focus on delivering institutional grade mid-box logistics/industrial schemes into tightly supplied markets across the UK.
“We have a very strong focus on sustainability, and we’ll make sure this is reflected in our procurement and delivery of all development schemes.
“From a standing start we now have a logistics/industrial development pipeline of around 800,000 sq ft and we will continue to increase our exposure to this growth sector.”
FirethornTrust was advised by Knight Frank, while the vendor, Pears Property, was represented by DTRE and Kirkby Diamond.