Pigeon acquires 3.5 acres at Cheshunt
Pigeon Investment Management has acquired 3.5 acres of land directly off the A10 at Theobalds Business Park in Cheshunt from STX. The firm will use the land for last mile logistic service to London.
The land is located approximately one mile from the M25/A10 interchange and already benefits from outline planning permission for B2/B8 use.
B2 planning permission allows land to be used for industrial processes, excluding incineration, chemical treatment, landfill or hazardous waste. It also excludes any activity which falls under Class 'E' planning, which covers a range of commercial, business and service use, particularly relating to retail and leisure use.
B8 permission relates to storage and distribution, and includes the use of open air storage.
A reserved matters planning application for a unit of approximately 50,000 sq. ft is being prepared and construction is due to commence in early 2023. Reserved matters planning permission is the next stage following the acceptance of an outline planning permission application. It can include details such as: appearance, means of access, landscaping, layout and scale.
Hugh French, Associate Director at Pigeon, said: “We are delighted to secure this site so close to the M25/A10 interchange and add to our growing development pipeline.
“The site is surrounded by a number of exciting uses including Broxbourne Council’s new Business and Technology Centre, a new 665,000 sq.ft data centre, and the proposed Sunset Waltham Cross Studios.
“This will provide much-needed logistics space to the Greater London area and offers the opportunity for uses such as last mile or businesses associated with the film industry.”
M1 Agency and Hoddesdon-based Paul Wallace Commercial have been instructed as joint letting agents for the scheme.
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