Tungsten Properties acquires Reading industrial site
Industrial and warehouse developer Tungsten Properties has acquired a seven-acre industrial site known as Observer Park in Arborfield, Reading.
By Liza Helps, Property Editor, Logistics Matters
THE SITE has outline planning consent to deliver circa 79,000 ft2 of industrial and logistics space across seven units ranging from 6,000 ft2 to 17,500 ft2.
The project is to target BREEAM Excellent and will include photovoltaic panels on every unit and electric vehicle charging points. It is forecast to create approximately 100 construction jobs and 79 jobs in operation.
Located with a frontage onto the recently constructed Observer Way, the site links to the M4 motorway Junction 11 which is three miles to the north and eight miles south-east to junction 4 of the M3 motorway.
Tungsten Properties associate development director Luke Davenport, said: “There is a lack of high-quality small units coming forward in the south-east, particularly under 15,000 ft2 so this scheme will answer the much-needed demand so that businesses can expand and grow. We look forward to submitting the Reserved Matters Application in the coming days.”
Subject to planning, construction is due to commence later this year.
T5REA acted on behalf of Tungsten Properties; Bidwells and Haslams acted on behalf of the vendor.
