PLP

We advised PLP on the purchase of a recently vacated data-centre site at Stone Business Park in Stafford.

Our Commercial Real Estate and Construction teams worked together on the acquisition and demolition documentation to ensure that the site is suitable and made ready for redevelopment into a speculative, prime 350,000 sq ft big box logistics warehouse and over 20,000 sq ft of offices. Further advice was then provided by our specialist teams to facilitate this development. The 17-acre site is located on Brooms Road, the gateway to the well-established and successful Stone Business Park. It is highly accessible by road with the A34 dual carriageway adjacent and Junction 14 of the M6 motorway located only 5 miles to the south and Junction 15 of the M6 only 9 miles to the north.

The project delivers a host of socio-economic benefits to the local economy, including over 100 additional jobs during its construction and now over 500 permanent jobs following its practical completion. The scheme itself has achieved BREEAM Excellent, EPC A certifications and a 10% biodiversity net gain, alongside both Carbon Neutral and Carbon Net Zero status. Throughout construction, the scheme utilised built-in renewable energy features such as solar photovoltaics, air source heating and cooling, LED lighting and electric car charging points.

Wrenbridge and Morgan Stanley

We advised Wrenbridge and Morgan Stanley on their acquisition of 37 acres of development land in Luton. The sale of the site was intended to support the redevelopment of the local football ground and the seller had secured a planning consent which needed to be strategically separated in order to facilitate the redevelopment of the stadium and to allow our client to submit its own planning application for its proposed scheme.

We also negotiated complex overage provisions linked to the gross internal area of the development and a deferred payment structure (secured by a charge) with a price ratchet, as well as a bespoke agreements relating to sharing any statutory compensation received in respect of utilities equipment identified on the site and controls on.

Wrenbridge and Fiera Real Estate

We advised Fiera Real Estate and Wrenbridge on the acquisition of an urban logistics site near Heathrow airport for £60 million.

Acquired from residential developer, Stonegate Homes, the site will be developed into a 110,570 sq ft scheme comprising of three units ranging from 22,131 sq ft to 58,127 sq ft.

The site will be targeting an EPC rating of A+ and a BREEAM Excellent rating.

LondonMetric

We advised LondonMetric on its acquisition of Farmfoods’ logistics warehouse in Avonmouth as part of a portfolio of transactions totalling £120m. The property group has paid £26.4m for the site through a sale and leaseback deal with the retailer.