This is the fourth site secured by the JV in the past year, taking the total value of acquisitions to around £150m.

The three-acre site in Cambridge will be developed to deliver around 80,000 sq ft of high-quality commercial space.

The plans are to develop the site — which currently consists of four units — to accommodate a range of occupiers, including manufacturing, logistics, R&D, laboratory and office uses.

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“The strength of Cambridge’s long-term economic and demographic drivers makes it one of the UK’s most attractive investment markets,” said Tom Punch, investment director at Investec REALIS.

“We’re pleased to be partnering with Wrenbridge once again on a high-conviction acquisition.”

Harry Gibson, development director at Wrenbridge, added: “Cambridge continues to be one of the most attractive markets in the UK for innovation and growing businesses.

“This latest acquisition allows us to bring forward high quality, flexible space capable of supporting a wide range of occupiers in the North Cambridge cluster.”