Railpen, which oversees £34bn in assets, has secured planning consent for a logistics facility in Hertfordshire and opened new electric vehicle charging stations in partnership with Osprey Charging.
The logistics facility is based near South Mimms and has been unanimously approved by Hertsmere Borough Council. In a statement, Railpen said the 120,000 square foot development would be a “highly sustainable headquarters… in a super prime location”.
It is being developed in partnership with Wrenbridge, a property company, and includes specific sustainability, energy efficiency and biodiversity targets. The site will include water features, wildflower meadows, footpaths and an orchard to support biodiversity and staff wellbeing.
The pension scheme estimated that the facility, once up and running, would add a significant number of construction jobs and boost the Hertfordshire economy by more than £7m a year.
Alastair Dawson, senior investment and asset manager at Railpen, said: “South Mimms will be the latest addition to Railpen’s portfolio of premium grade logistics developments delivered in partnership with Wrenbridge.
“Reflecting Railpen’s strategy of creating clusters of innovative, high-quality assets that help businesses thrive, each has the highest sustainability and wellbeing standards, has been designed to reflect occupier needs, and is located in strategically significant locations around the M25.”
Electric vehicle charging
Elsewhere, the pension scheme has supported three new charging stations built by Osprey Charging, a fast-growing rapid-charging network for electric vehicles. The stations are being installed at property assets owned by Railpen.
The first is at St Ann’s Shopping Centre in Harrow, London, with two more expected to open “very shortly” at Glamorgan Vale Retail Park and at Old George Mall in Salisbury, the pension scheme said.
“The partnership with Osprey demonstrates Railpen’s commitment to providing long-term stable returns for members, while having a positive impact on the environment,” the scheme said in a statement.
“It also reflects Railpen’s commitment to enhancing its retail assets to provide customers with more choice, aligning the destinations to their lifestyles as more and more consumers switch to full electric vehicles or hybrids.”
Finally, clothes company Moss has opened an outlet at Caledonia Park, which is owned by Railpen. It is the firm’s first outlet in Scotland and follows several other major brands debuting in Scotland at Caledonia Park, located near Gretna.
Further reading
USS, Railpen announce major UK investments (13 August 2024)
Railpen laments ‘opportunity lost’ as FCA unveils listings overhaul (11 July 2024)
Railpen names Bord as new chief executive (9 July 2024)