RPMI Railpen (Railpen), the investment manager for the £30bn railways pension schemes, and Wrenbridge have achieved planning consent for a 128,000 sq ft warehouse development on a 5.85-acre site in Waltham Cross, London, purchased in October 2019. The development will create six Grade A units ranging in size from 5,400 sq ft to 84,500 sq ft.

The site benefits from close proximity to major roadways including the M25, A10 and M11, and is immediately adjacent to Waltham Cross Station with regular 27 minute services to London Liverpool Street. Wrenbridge will act as development partner with Railpen, with the new units due to be completed in Q2 2021.

Alastair Dawson, Senior Asset Manager at Railpen, commented: “Securing planning consent achieves a major milestone in our objective of creating a new, Grade A warehouse development in this prime London location. We are committed to delivering this scheme and re-generating this derelict site, creating jobs for the Borough of Broxbourne.”

Jeff Wilson, Director at Wrenbridge, added: “The industrial sector continues to grow, with demand for premium space outstripping supply. This new development in Waltham Cross, with its range of unit sizes and excellent accessibility, is exactly what the market is looking for.”

The planning permission was secured at one of the first virtual planning committees held by video conference since lockdown commenced.

CBRE, Avison Young and Montagu Evans have been appointed as the leasing agents for the new development.