Real estate investor and developer, Firethorn Trust, has completed its acquisition of a 21-acre site in Peterborough, ahead of work starting later this year.
The speculative logistics scheme, Peterborough South at Kingston Park in Hampton, has been purchased from O&H Properties.
Firethorn plans to develop three modern industrial units, offering 94,225 sq. ft., 139,915 sq. ft. and 240,830 sq. ft. space on the site, which sits adjacent to existing occupiers including Amazon, IKEA and DART.
Firethorn has now submitted its planning application for the scheme, which will be delivered to net-zero carbon in construction and target an ‘Excellent’ BREEAM rating, with a sustainable infrastructure that features more than 40,000 sq. ft. of photovoltaic arrays as standard, 48 electric vehicle charging points, and 15% roof lighting.
Benefiting from an existing employment allocation, Peterborough South will also foster employee health and wellbeing, with a workplace design to boost productivity and that is WELL Building Standard ready. When complete, the development is expected to create hundreds of jobs for the region.
Work will commence on-site by the end of this year, with practical completion due in Q4 2022.
Peter Mather, Partner at Firethorn Trust, said: “Peterborough South is a fantastic addition to Firethorn’s portfolio, as we look to unlock the potential of sites in strategic locations. Peterborough is one of the fastest growing cities in the UK and offers fantastic opportunities for the industry, thanks to its excellent road connectivity and strong labour supply.
“We look forward to bringing work forward at pace to develop a highly-specified, sustainable logistics park, with modern facilities and amenities that will benefit both occupiers and employees, and continue to drive investment into the local area.”
All enquiries for Peterborough South should be directed to the scheme’s agents, Savills and Lambert Smith Hampton.