FirethornTrust has acquired a 24.5-acre Bedfordshire logistics site with planning consent for a 460,000 sq ft industrial scheme with a GDV of around £68m.

The investor bought the second and third phases of Apex Park, off the M1 near Leighton Buzzard, from Pears Property in an off-market deal.

It plans to develop both phases speculatively once detailed planning consent is granted. Units will range from 12,000 sq ft to 130,000 sq ft.

“This acquisition is in line with our current strategy to focus on delivering institutional-grade, mid-box logistics/industrial schemes into tightly supplied markets across the UK,” said Peter Mather, partner at FirethornTrust.

The firm made its debut in the sector with the acquisition of a 37-acre site in Milton Ham near Northampton from Travis Perkins.

FirethornTrust was advised by Knight Frank and Stephenson Harwood. DTRE and Kirkby Diamond represented Pears Property.