Pembury Real Estate has bought a 10-acre site in Aylesbury, which it intends to develop as a new 185,000 ft2 urban logistics hub.
It is currently working up a speculative scheme consisting of buildings between 20,000 ft2 and 60,000 ft2 with its joint venture partners Marchmont IM and Peveril Securities.
The former Moeller Complex is expected to secure planning permission this year with completion due in Autumn 2022.
Pembury Real Estate, which was only set up this year, is a privately owned real estate investment and development company specialising in the UK industrial and logistics sector.
It has already secured planning permission for a 34,1000 ft2 warehouse located on Orbital Park, Ashford, Kent, which is expected to start on site this summer.