Legal & General Property is to speculative develop a 77,000 sq ft Bracknell warehouse in October, as the M4 warehouse market gathers speed.
Acting on behalf of its Linked Life Fund, L&G has approved a speculative start on the scheme of single warehouse at Lovelace Road, Bracknell. The scheme, to be called Lovelace Park, won planning permission in 2013.
A statement from L&G said: “Demolition started in April this year and completed in July. Main works are due to start in October this year, with completion targeted for summer 2016.”
Until now LGP had been seeking pre-let opportunities for the site. The warehouse will be located on a 3.88 acre site on Lovelace Road in the Southern Industrial area of Bracknell, Lovelace Park benefits from excellent transport links, including easy access to Junction 10 of the M4.
The site was previously occupied by Honeywell. Nearby occupiers include Waitrose, BMW, Panasonic, Hyundai and Fujitsu.
Vail Williams and Strutt & Parker are advising on the scheme.
