Plans have been revealed to build a new £60 million logistics site in Bedford.

Developer LondonMetric Property has acquire the 40-acre Bedford Link site from the council, which has planning for up to 670,000 sq. ft. of logistics space

A total of four regional distribution warehouses will be built at the site. Enabling works are due to begin shortly, with construction anticipated to start in summer 2018. Graftongate has been appointed as Development Manager.

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Andrew Jones, Chief Executive of LondonMetric, said: "We are pleased to be in a position to commence infrastructure works, reinvesting proceeds from our recent disposals. We are still unlocking value within this area of the market and will continue to target yields on cost materially above current investment yields.

"The supply of Grade "A" distribution space remains highly constrained, which is reflected in the quality of our ongoing discussions with potential occupiers."

(LM)