PROPERTY investment and development company SEGRO Plc has acquired over 1000 acres of land at the former Radlett Aerodrome in Hertfordshire, which it plans to develop into a strategic rail freight interchange.
Purchased from Hertfordshire County Council and Gorhambury Estates Company Ltd in a £120 million deal, the site is alongside the Midland Main Line and M1, M25 and A1(M) near St Albans.
Concerns have been raised about the impact the development could have on traffic in the area, but SEGRO already has planning permission for the development, which is recognised by the Government as nationally significant.
Initial work will focus on the creation of a rail connection and preparing the site for development.