Major ‘gateway’ warehouse scheme to be built following industrial estate sale

A major industrial estate in Leicester has changed ownership – with the seller revealing plans to build a new “gateway” warehouse scheme in the city.

Boundary Real Estate Partners (Boundary) has sold its freehold interest in the 241,187 sq ft Bridge Park and Pinfold Road Industrial Estate to a private client of APB.

The site comprises two adjoining estates, offering 34 units across a mix of light industrial, urban logistics and trade spaces.

The site also features a five-acre office complex with potential for redevelopment.

The Bridge Park and Pinfold Road Industrial Estate was bought by Boundary in December 2021 as part of the Raynsway Portfolio.

Since Boundary’s acquisition in December 2021, the site has seen 21 lettings, renewals and rent reviews, driving average rental growth of over 12% per year.

Now, Boundary will turn its attention to a new 656,620 sq ft scheme made up of warehouse/industrial space that it says will “provide a gateway location into Leicester, injecting capital into the region and providing substantial employment and economic growth, along with protecting, enhancing, and extending the area’s networks of green spaces”.

Charlie Walker, co-founder of Boundary, said: “Following the completion of the sales programme from the office element of the portfolio, we are delighted to have now finalised the disposal of the industrial segment, following active asset management over the last three years. We are now focussed on delivery of the 50 acres of development land next to the A607, following planning permission earlier this year.”

ACRE Capital advised Boundary on the sale of Bridge Park and Pinfold Industrial Estate. The buyer was represented by APB Leicester.