Bridges Fund Management (BFM), a specialist private property investor, has entered a joint venture with industrial/logistics developer Equation Properties (EP) to develop 155,000 sq ft of sustainable commercial space in Wallingford, South Oxfordshire.
Following the purchase of the site in February 2020, planning consent was obtained in September 2020 for Verda Park, the scheme will be developed speculatively and consist of 12 units ranging from 5,124 – 69,901 sq ft, within three separate terraces. Construction is targeted to commence in November 2020 and the development is expected to complete in Q2 2021.
Verda Park will be built to the highest of standards with outstanding sustainability credentials such as EPC A+, Net Zero Carbon and BREEAM 2018 ‘Excellent’. Lambert Smith Hampton, Avison Young and Haslams have been instructed as letting agents for the scheme.
Located in South Oxfordshire, within Wallingford’s established commercial area, Verda Park fronts the Western Bypass (A4130) and Hithercroft Road. The site benefits from road links to the M4 and M40 corridors, as well as the A34 trunk road.
Verda Park, South Oxfordshire is located within the ‘Arc of Innovation’ which stretches from Cambridge across to Oxfordshire and is part of the ‘Golden Triangle’, encompassing the universities of London, Cambridge and Oxfordshire.
Verda Park is situated close to Oxford and the globally renowned Oxford University and hubs such as Oxford Science Park, Harwell Campus and Milton Park. The area is home to organisations working in the bioscience, food tech, high performance and high-tech engineering sectors. The ‘Arc of Innovation’ is a magnet for inward investment and Verda Park can accommodate businesses looking to capitalise on this economic strength.
Henry Pepper, investment director of Bridges Fund Management, said: "Verda Park is designed to a highly sustainable specification, the scheme will be Net Zero Carbon at construction, BREEAM 2018 ‘Excellent’ and EPC A+. The development will provide much needed commercial space for the thriving, knowledge-intensive South Oxfordshire economy."
Richard Batham-Read, development director of Equation Properties, said: "Great to partner with Bridges and be promoting such a high-quality scheme that will be attractive to occupiers in a wide variety of sectors. The region is significantly undersupplied with units of this size, and now planning consent has been secured we are excited to be entering the next stage of delivery."