LGP secures planning for 77,000 sq ft warehouse in Bracknell.
02 January 2013
Legal & General Property (LGP), on behalf of its Linked Life Fund, announces that it has achieved planning consent for a new 77,000 sq ft single warehouse unit on Lovelace Road, Bracknell, which has been named Lovelace Park.
LGP is seeking pre-let opportunities for the site. The warehouse unit will include ancillary office space and a secure service yard. 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.
Craig Westmacott, Senior Fund Manager of the Linked Life Fund at Legal & General Property, comments: “We are excited to be able to offer to the market a high quality warehouse pre-let opportunity in the heart of Bracknell’s strategic industrial area that meets the demands of international and local businesses alike.”
Vail Williams and Strutt & Parker are advising on the scheme.
Further details can be found at www.lovelacepark.co.uk.
Notes to editors
Legal & General Property (LGP) is a wholly-owned subsidiary of Legal & General Investment Management (LGIM), one of Europe’s largest institutional asset managers and a major global investor. LGIM manages approximately £391bn of assets on behalf of more than 3,300 clients (30 September 2012) and provides products and solutions spanning all asset classes. LGP is the third largest institutional property fund manager in the UK, managing or co-managing 16 separate funds or vehicles and two segregated mandates with an aggregate asset value of £10.4bn as at 30 September 2012.
These funds include:
Specialist Pooled Funds
he Leisure Fund Limited Partnership; Industrial Property Investment Fund; Arlington Business Parks Partnership; and the English Cities Fund
Single Asset Vehicles
Bracknell Regeneration Partnership; Central Saint Giles Partnership; Performance Retail Limited Partnership and Warrington Retail Limited Partnership
Life Fund; Linked Pensions; Linked Life; Managed Fund; Property Unit Trust; UK Property Income Fund; LPI Income Property Fund and the Hybrid Property Fund
LGP’s UK-focused fund management platform has built and retained a strong track record of outperformance across the sector. Owing to its size, diversity and penetration, it benefits from best in class banking and property industry contacts which, along with its wealth of in-house skill and expertise, have enabled it to continue to attract and secure high quality market opportunities. Taking a client-centric approach, the business places the highest priority upon integrity and transparency, leveraging upon the significant resources provided by the wider LGIM platform. Sector specialists cover each sphere of the market and are supported by LGP’s market-leading research capability.
LGP’s sector specialisms cross all facets of the real estate market. In particular, the Company has a major development platform, responsible for delivering the West End office market’s latest landmark, Central Saint Giles, and currently involved in developing its high profile Covent Garden scheme, Agar Street, as well as significant town-centre retail and leisure regeneration projects, including Bracknell, Trowbridge, Northampton and Eastbourne.
For more information please contact:
PR Manager, Legal & General Capital and Real Assets, LGIM (Property, infrastructure and alternative finance)
t: + 44 (0) 203 124 2777
m: + 44 (0) 7718 395 279
About Legal & General
Legal & General Property Limited.
One Coleman Street
London EC2R 5AA.
Registered in England 2091897.