Tag: distribution centre|logistics|warehouse

Detailed planning consent has been granted for the construction of a new Grade A logistics facility at Prologis Park Midpoint in Minworth, on the outskirts of Birmingham, UK.

The plans include the demolition of an obsolete unit and the construction of a new “best in class” 163,000 sq ft building that will be rated BREEAM “excellent”, net zero carbon in construction and will deliver much needed logistics space to the West Midlands market.

Originally built for the supermarket giant Asda in 2016, the existing facility was too bespoke for wider market requirements. Repurposing the site to meet current market demands will provide additional space in a prime location. The development of DC6 will expand the park to over 1.6m sq ft, provide additional amenity space for the park, and enhance landscaping, as part of Prologis’ ParkLife initiatives.

Prologis Park Midpoint is one of Prologis’ most successful parks and is located only eight miles from central Birmingham. With access to 11 motorway junctions within five miles, the site provides vital accessibility for both national and urban distribution.

The application was unanimously approved and was welcomed by a number of consultees in adding both economic and social value to the local area.

James Hemstock, director in the capital deployment and leasing team at Prologis UK, said: “The redevelopment plans for DC6 Prologis Park Midpoint will bring a much-needed new lease of life to an under-utilised site and additional space to a starved market. We are looking forward to work getting underway early summer.

“We’re expecting to complete the building early 2023 and have already had a significant amount of interest from potential customers. We want this location to continue to develop and realise its full potential, for the benefit of businesses and households across the West Midlands.”

Global real estate firm Hines has announced the sale of the Royal Mail sorting warehouse in Edinburgh. The industrial building was acquired in 2019 by a fund sponsored by Hines and has been sold to ICG Real Estate for an undisclosed price.

The 215,745 sq ft mission-critical facility is located in Edinburgh’s Sighthill Industrial Estate adjacent to Hermiston Gait Retail Park. Approximately 700 staff are based at the facility with over 900,000 letters and 45,000 parcels handled there daily.

“Logistics remains a hugely important sector for Hines in the UK and Royal Mail’s sorting warehouse is a great example that we are not afraid to consider tactical sales while looking to redeploy capital into more accretive opportunities,” said Greg Cooper, Managing Director at Hines.

Chad Brown, Managing Director at ICG Real Estate commented: “We’re pleased to have acquired this well located and highly mission-critical asset. The investment underlines our ongoing belief in the logistics market’s robust occupational tailwinds with the firm eager to deploy further capital in the sector across Europe.”

ICG was advised by Knight Frank and Marchmont Investment Management.

 

To meet rising demand for sustainable logistics space with easy access to consumer markets, Goodman has launched a 500,000 sq ft site in M25 e-commerce hotspot, Dartford. This is the first of its UK portfolio to feature full rooftops of solar PV as it accelerates its commitment to low carbon technologies.

Available for immediate occupation and comprising three high-specification units of 240,884 sq ft, 138,062 sq ft and 101,659 sq ft, Crossways Commercial Park offers state-of-the-art facilities for customers across retail, e-commerce and logistics.

With direct access to Junction 1a of the M25, the site’s fast connections to London and the national motorway network place 10.4 million consumers within a 60-minute HGV drive-time with a purchasing power of £268.1bn. Kent’s excellent freight links to the Channel Tunnel, Port of Dover and London Thamesport also make the facilities ideal for businesses serving UK, European and international markets.

Crossways Commercial Park is among Goodman’s most sustainable UK developments and is the first to feature a full rooftop array of solar photovoltaics (PV) across each building. The 2.2MW system will generate a combined annual power output of almost two million kWh – equivalent to removing 435 tons of carbon from the atmosphere or planting 20,727 trees.

Designed to support customers decarbonise their operations, Crossways Commercial Park features solar thermal hot water, solar heating for office areas and other sustainable features including electric vehicle (EV) charging points, infrastructure for EV fleets, rainwater harvesting and smart metering, to help monitor and reduce energy consumption. Delivered to a BREEAM ‘Excellent’ specification and achieving an A+ energy rating, each building also features a carbon neutral cladding system, designed to meet ‘chill-store’ and ambient product storage requirements.

George Glennie, Development Director at Goodman, said: “Crossways Commercial Park is a prime example of Goodman’s global focus on delivering sustainable properties that utilise the latest innovations in design, construction, and energy generation.

“Not only is it our most sustainable property in the UK, but it sets a standard for future properties we will be developing Its strategic location is also set to drive supply chain efficiencies for our customers, placing them closer to consumers which in turn drives down transport emissions.”

The launch of Crossways Commercial Park also follows Goodman UK achieving a 5 Star Rating in the Development benchmark by GRESB, a leading sustainability assessment for the real estate sector.

Glennie added: “Through developments such as Crossways Commercial Park, we are realising our ambition to deliver properties that can meet our customers’ needs now and into the future.”

Crossways Commercial Park adds to Dartford’s reputation as a thriving distribution and supply chain destination, with more than 4,000 people employed in logistics and e-commerce. Part of an established business park spanning 300-acres, the development offers customers excellent on-site amenities in an attractive, landscaped setting. Employees will also benefit from a range of dedicated public transport options, helping to support recruitment and staff retention.

Gavin Cleary, CEO at Locate in Kent, said, “We welcome this outstanding new facility in Dartford. Goodman is not only meeting the demand for high quality, well connected space in Kent, but is also responding to the very strong desire from international companies to have sustainable, environmentally-conscious and future-facing facilities in the UK.

“This investment once again demonstrates why Kent is perfectly placed for logistics and distribution companies wishing to expand operations and maximise their potential.”

Xpediator, an international provider of freight management & 3PL services across Europe, has announced that Delamode Nidd Ltd, the Group’s subsidiary in the freight forwarding division, has agreed a new five-year lease for a second warehouse in Ripon, North Yorkshire, UK.

The warehouse is 67,000 sq ft (6,200 sq m) and is located a short distance from the company’s existing warehouse in Ripon, the two warehouses together increases Delamode Nidd’s total storage capacity to 113,000 sq ft (10,500 sq m).

The new warehouse has been leased to meet rising demand for storage from existing clients, as well as providing improved cross docking facilities in the North of England. The new warehouse also offers additional space for nonstandard palletised products and dedicated space to meet customers bespoke pick and pack requirements.

The warehouse is being reconfigured to meet the company’s tailored layout and racking specifications, offering a combination of storage that accommodates 5,000 pallet spaces, pick and pack operations and additional floor space for oversized goods. The configuration of the warehouse and additional space will also improve its cross-dock operations in terms of speed and efficiencies when handling goods for international and domestics distribution.

Delamode Nidd provides regular road freight services for Northern & Southern Ireland, France, Spain, Portugal, Italy, Germany and Eastern Europe, as well as a providing a high-quality UK distribution service in the North of England.

Wim Pauwels, Interim CEO, Xpediator Plc, commented: “There has been strong demand for Delamode Nidd’s services since the turn of the year and we fully expect this to continue on a positive growth trajectory. The new warehouse will help Delamode Nidd accommodate current customer transport and warehousing requirements, whilst also providing a strong platform to develop our service coverage further in the North of England.

 

Leading commercial property developer Stoford has completed work on the first phase of a £200m build-to-suit logistics and manufacturing scheme near Redditch, UK.

Unit A is a new 534,000 sq ft (50,400 sq m) warehouse building with a mezzanine floor and integral office space that lies to the north of the 78-acre Redditch Gateway site, near Junction 3 of the M42.

The development, which has been pre-let to multinational technology company Amazon, was funded by Royal London Asset Management (RLAM) and has an end value of c.£86m.

Redditch Gateway has capacity for up to one million sq ft (92,900 sq m) of brand new office, logistics and manufacturing accommodation when complete.

Two additional build-to-suit units of between 150,000–250,000 sq ft (14,000-23,000 sqm) are available to the south of the site, which is now fully serviced and delivers a 9.5MVA power supply. The accommodation will include integral office space, a secure yard and parking, with a total space of c.450,000 sq ft (c.41,800 sq m).

Dan Gallagher, Joint Managing Director, Stoford said: “With the first unit at Redditch Gateway now complete, we are working to deliver the next phase in this exciting scheme. Redditch Gateway is located in a prominent distribution area of the Midlands, with a skilled local labour force and excellent transport links via the national motorway network. There is huge pent up demand for logistics and manufacturing accommodation of this size and quality in the West Midlands and we are anticipating significant interest in the next phase.”

Gary Woodman, Chief Executive of Worcestershire Local Enterprise Partnership (WLEP), said: “I am pleased to see the first phase of work completed at the Redditch Gateway site. Increasing jobs in the county is a key objective for Worcestershire and this investment from Amazon will help to bring jobs and economic benefits to the county, helping the county to bounce back from the shock of the COVID pandemic. As part of our Plan for Growth strategy for 2040, I look forward to seeing the delivery of further phases of this project to help us achieve our vision of making Worcestershire a connected, creative, dynamic economy for all.”

Anita Bhalla, Interim Chair, Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP), said: “It is fantastic to see Redditch Gateway reach this latest milestone, as it demonstrates how our investments are delivering for our local people and businesses. We allocated £1.8m from our £208m Local Growth Fund programme to this project. It’s great to see that Amazon has already signed up to move in and we can expect further tenants in the next phase. In the last decade, GBSLEP’s unique structure of bringing together public, private and academic partners has helped unlock many commercial sites like this one, helping drive inclusive economic growth across our region.”

Worcestershire County Council Cabinet Member with Responsibility for Economy and Skills, Councillor Marc Bayliss, said: ”It is great news for the county as construction is progressing well at the Redditch Gateway site and a world renowned name such as Amazon has been named as tenants and will have a base in our county. It’s another clear and visual indication of the progress we have made over recent years, as we continue to develop the county’s economy and bring with that substantial economic benefits.”

Councillor Matt Dormer, Leader of Redditch Borough Council, said: “Exciting times are underway for Redditch and with the completion of the first phase of the Gateway development this proves that this Council is committed to unlocking the potential of this Borough and we are delivering on our promises. And we’re not resting on our laurels and will continue to work with partners to push through the second phase of the development which, along with the Town Deal, will complement our plans to regenerate Redditch. I am proud of this town and can’t wait to see it flourish, creating jobs for our residents and boosting the local economy.”

Councillor Tony Jefferson, Leader of Stratford-on-Avon District Council, said: “This scheme will be a real tonic to the economic development of the area and will create a great many employment opportunities. The arrival of an organisation like Amazon is a real plus.”

Tim Davies, Senior Development Manager, Homes England, said: “This is exciting news for the project which has been the result of many years of brokerage behind the scenes. Homes England look forward to receiving proposals from Stoford for the remaining land.”

Redditch Gateway is located off Gorcott Hill and the A4023 Coventry Highway on the eastern fringes of Redditch, just 18 miles (29km) from Birmingham Airport. The site falls into two local authority areas, Stratford-on-Avon in Warwickshire to the north and Bromsgrove district to the south.

Stoford has been appointed as development partner for Redditch Gateway, working alongside the two landowners, The Gorcott Trust and Homes England. The scheme is being supported through a blend of grant and loan funding of £1.7m from WLEP and a £1.8m grant from GBSLEP.

Redditch Gateway is being marketed by Burbage Realty, Colliers International and Savills.

 

Just 10 months after commencement on site, DSV is celebrating the practical completion of a 522,000 sq ft industrial facility and offices. The scheme – designed, constructed and partially fitted out by Winvic Construction Ltd during the pandemic – is located at the 238-acre Mercia Park in north-west Leicestershire.

The plot comprises three buildings – totalling 522,000 sq ft – and contains:

• 104 dock levellers:
• A 358,000 sq ft steel-framed warehouse containing three mezzanine floors and two single-storey hub offices totalling 4,360 sq ft
• A 112,000 sq ft cross-dock terminal
• A 35,660 sq ft three-storey office building

The large stand-alone office building was designed and executed to meet DSV’s global standard with high-spec fitted office spaces found within the warehouse buildings. The prominent design features to the main office include a glass lift, wood-panelled walls in an oak finish and a feature staircase. The external works package included 381,700 sq ft yard space plus car parking for 406 vehicles, and the programme contained all drainage, retaining wall, and hard and soft landscaping works.

Surinder Dubro, Managing Director, in DSV, commented: “We commissioned the project in September to construct a building in the heart of England to accommodate all three divisions of DSV. The main shared user warehouse facility operated by our DSV Solutions Division will provide logistics services for two existing platforms clients and will ensure both seasonal capacity and growth can be accommodated.

“The facility will also be fitted out with DSV Factory Fulfilment automation. This plug and play system will allow clients to enter an automated tote bin and grid system where robots pick the goods and deliver direct to the packing teams.”

This UK £2.5m DSV investment is one of six initial systems being installed in Europe with an initial investment of over £20m with more to come across the globe and is a clear strategy to ensure DSV delivers operational excellence.

Local Management, Marc Coleman, Louis Ataria and Sarah Pritchett shall be welcoming their teams from two existing locations to the new site from mid-October, which shall bring new job opportunities to the local area of Mercia Park.

Vice President, Jesper Hansen, added: “This is a huge enhancement to our portfolio, the state-of-the-art facility is ideally situated to operate as the key main hub for our distribution network, servicing the entire country. The location complements our already established infrastructure across Europe, adding significantly to our continuously developing DSV groupage network.”

The project has been designed and constructed in accordance with the Building Research Establishment Environmental Assessment Method (BREEAM) under the 2018 framework to achieve excellence in respect of water and energy efficiency. To name a few initiatives, rainwater harvesting will be used for flushing toilets to reduce consumption of potable water, sustainable drainage systems have been implemented as well as solar photovoltaics for electrical power contribution.

High-performance LED lighting supported by motion sensors have been installed, reducing the total power demand whilst meeting best practice. As part of the Mercia Park site wide scheme beyond the site boundary, there is the creation of landscape buffers and large-scale planting using native woodland species, planting for wildlife habitat and wildflower buffers, roosting boxes for bats and nesting boxes for birds.

The project’s progress has been streamed throughout construction and the completed buildings with their striking striped cladding can still be seen on Winvic Live in timelapse videos.

Winvic Construction Director, Rob Bull, said: “The DSV project bucks the industrial facility trend because it comprises separate buildings for the main warehouse, cross-dock and offices, but there was no doubt that we could carefully sequence the construction and fit-out works to build them all simultaneously and within ten months. Additionally, our team led by Project Manager David Gilbert knew that the aesthetics, material quality and execution had to meet DSV’s high global design standards, and we’re as thrilled as DSV are about the exceptional finish achieved.”

ASOS, one of the world’s leading online fashion retailers, has formally opened its state-of-the-art fulfilment centre in Lichfield, Staffordshire, with Michael Fabricant, Conservative MP for Lichfield and Cllr Doug Pullen, Conservative Leader of Lichfield District Council.

The facility at Fradley Park, which will employ 2,000 people over the next three years, is being managed by GXO Logistics, and has already recruited more than 700 people.

ASOS will invest a total of £90m in the new 437,000 sq ft fulfilment centre and will use it to serve customers in the UK and over 150 countries around the world. ASOS expects to ship over 30 million units in the site’s first year, and up to 4.5m units per week once the site is fully operational and automation is complete. The site will enable ASOS to meet increasing customer demand and support its ambitions of reaching £7bn of annual revenue within the next three to four years.

Mat Dunn, Chief Operating Officer at ASOS, said: “We are thrilled to be celebrating the opening of our brand-new warehouse in Lichfield, which will support our ambitious international growth plans and bring a significant number of jobs to the area. Our choice of Lichfield reflects the skills and talent it has to offer and we’re looking forward to becoming part of the local community in the years ahead.”

Paul Scully, Business Minister, said: “As we build back better from the pandemic, we want to level up our country with new jobs, and big investments from businesses like ASOS will play a major part in that. It’s brilliant that ASOS – a British success story – is investing in Staffordshire with the creation of a new fulfilment centre and 2,000 jobs to boot, providing a welcome boost for the local economy and people in and around Lichfield.”

Michael Fabricant, MP for Lichfield, said: “Lichfield District is ideal as a location for ASOS’ new global warehouse as it sits in the middle of the country and is well connected to our road system. But Lichfield is much more than that. It has a highly educated, well-motivated and skilled workforce so the District has attracted many hi-tech industries. In addition, it is a great place to live with lively night life combined with a historic centre. I welcome ASOS to Fradley and wish them the very best for the future.”

Councillor Doug Pullen, Leader of Lichfield District Council, added: “It’s wonderful to be able to welcome ASOS to Lichfield District – we’re delighted ASOS selected this location to support the next stage of its global growth. As well as creating local employment and supply chain opportunities, I know ASOS are keen to play an active role in our community and I look forward to working with them in the years ahead. We are ideally located for this type of facility with a skilled local workforce, excellent infrastructure and a high quality of life.”

The Fradley Park warehouse joins a growing number of global fulfilment centres for ASOS. ASOS currently operates three other fulfilment centres, in Barnsley, Berlin and Atlanta.

Leading commercial property developer Stoford has broken ground on the site of Pets at Home’s new state-of-the-art national storage and distribution centre in Staffordshire.

The UK’s leading pet care business has signed a 20-year lease on the purpose-built facility at Stafford North Business Park, close to Jct 14 of the M6.

Tesco Pension Fund is forward funding the new development, which is expected to employ more than 750 people when it opens in the summer of 2022.

The BREEAM ‘Excellent’-rated building will deliver a gross internal floor area of 670,000 sq ft, with an additional 100,000 sq ft of expansion land available if required.

Facilities will include two double-storey hub offices of 5,600 sq ft and a recycling store, tote store and a gatehouse detached from the main building. A nature walk and dog walking areas will be made available for public use, along with colleagues working at the site.

Stoford has awarded the building contract to McLaren Construction Group.

The new national storage and distribution centre is part of the first phase of development on a 70-acre site at Stafford North Business Park.

The site will benefit from an additional £9 million investment in the road and utilities infrastructure, including a new roundabout on the A34 at Redhill, north of Stafford, that will open up further phases of development.

Stoford Joint Managing Director, Dan Gallagher, said: “We have worked closely with Pets at Home and Tesco Pension Fund to develop this exciting new scheme that will sustain local jobs in Staffordshire. We will deliver a modern national storage and distribution centre, with a first-class design that has sustainability at its core. We are also making a significant investment in the infrastructure at Stafford North Business Park to allow us to develop the facility into one of the region’s leading employment sites.”

Pets at Home Chief Executive, Peter Pritchard, said: “Today marks a major milestone in the next step on our journey and a significant investment that will help enable our colleagues to better serve our customers right across the country. For us, pets always come first and I am really proud that this project not only sees the development of a state-of-the-art national distribution centre that will allow us to create efficiencies throughout our supply chain, but it also brings with it brand new nature walks and safe dog walking areas for colleagues and local residents to enjoy.”

Garbe Industrial Real Estate has started construction of a state-of-the-art logistics property in Harsum (Hildesheim district in Lower Saxony). The new building is scheduled to be ready for occupancy in the second quarter of next year and will have a total area of 17,800 sq m. The Hamburg-based project developer is investing €14.8 million in the site.

The property is being built on a 30,500 sq m plot in the Nordfeld industrial estate in Harsum. This is located about 10km north of Hildesheim and about 10km south of the city limits of Hanover. The hall will be designed so that it can be divided into two units: one is to be 9,100 sq ft, the other 7,900 sq ft. “Thanks to the back-to-back formation of the two units, the new building is suitable both for management as a cross-dock property and also as a standard logistics area thanks to its construction height of 10.50m UKB,” emphasises Jan Dietrich Hempel, Managing Director of Garbe Industrial Real Estate GmbH.

The new building will be equipped with two ground-level sectional doors and 17 dock levellers. The floor in the smaller hall will be sealed with a special foil so that substances in water hazard classes 1-3 can also be stored or handled. Parking spaces for 36 cars and four trucks are being created on the outside area. About 830 sq m are earmarked for offices and social rooms in the property.

Transport links played a key role in the decision to locate the building here. The business park is within sight of the Autobahn 7, which connects Hanover with Kassel. The Hildesheim-Drispenstedt junction is approximately 4km away and can be reached in a few minutes via the B 494 federal road which runs directly past the industrial estate. At the Hannover-Ost junction, the A7 motorway connects to the A2 motorway, one of the most important east-west axes in Germany.

Garbe Industrial Real Estate is aiming for the property to be certified in accordance with the Gold Standard of the German Sustainable Building Council. A photovoltaic system will be installed on the entire roof area to generate renewable energy.

The new building will be constructed without fixed rental commitments. Talks with potentially interested parties have already begun. “The demand at this location is very high,” says Hempel. “Therefore, we anticipate full occupancy while construction is still underway.”

Oxford Properties Group, a leading global real estate investor, asset manager and business builder, and Logistics Capital Partners, a best-in-class developer and asset manager of logistics real estate across Europe, have formed a new co investment joint venture, to acquire a 734-acre site near Birmingham which they will develop into a major new logistics hub with associated rail freight terminal known as West Midlands Interchange.

Oxford and LCP will jointly invest c.£1bn to bring forward the project over a number of years, with Oxford providing the majority of the capital and working alongside LCP’s highly experienced and professional team as development manager. West Midlands Interchange will be a technologically advanced and environmentally sustainable development which meets modern occupiers’ efficient operational and environmental requirements.

Planning consent has already been secured by the vendors, which allows for the delivery of around 8 million sq ft of prime logistics space and provides flexibility around the project timeline and scale of units. Infrastructure works are expected to commence in the first half of next year with the first buildings starting on site in 2022 ready for occupation in 2023.

The site can accommodate new warehouses ranging in size from 200,000 sq ft to over 1 million sq ft, with building heights up to 30m. This scale and flexibility will create space for some of the most efficient operations in the country, maximising cubic storage capacity and the possibility for occupiers to deploy the latest technology.

West Midlands Interchange is centrally located in the UK, northwest of Birmingham in the key West Midlands logistics corridor and will deliver significant economic benefit to the region through the creation of 8,500 jobs and a further 8,100 indirect jobs. It is also expected to generate around £430m of local economic activity each year, and, through the supply chain, create over £900m of economic activity each year nationally.

It benefits from excellent transport connectivity to the UK’s major cities, ports and airports, with immediate access to the M6 motorway allowing 88% of the population to be reached within a four-hour drive, well inside the HGV single trip limit. As part of wider infrastructure improvements, Oxford and LCP will build a new link road to connect the A5 and A449, enhancing the resilience of the local road network to improve access to the site and achieve additional public benefit.

In addition, the project will create a new Strategic Rail Freight Interchange, which will provide intermodal access for occupiers. This gives the site a significant competitive advantage, with rail transport a cheaper and more environmentally sustainable option while also reducing congestion on the roads. The West Coast Main Line is already one of the most important freight routes in the UK, used by 90% of all intermodal trains, and its capacity likely to be transformed by High Speed 2, the next phase of the UK’s high speed rail network linking London with the North, currently due to open between London and Birmingham in 2026.

Sustainability sits at the heart of the site’s masterplan, which includes the creation and maintenance of two new country parks of a combined 109 acres that will achieve a net biodiversity gain across the development, 36% of which will comprise green infrastructure. Warehouse roofs will be built to accommodate installation of photovoltaic panels, enabling the generation of renewable energy.

In 2020, Oxford announced its intention to deploy £3 billion of capital in the European logistics sector over the next five years in platforms, developments and portfolios of scale. The company made its first direct European investment in 2020, with the acquisition of a 15-acre site in Heathrow alongside LCP.

James Boadle, Head of Logistics and Residential, Europe at Oxford Properties, commented: “In recent years we have significantly increased our exposure to the logistics sector globally through several major transactions, including making our first direct investment into European logistics last year with LCP. Logistics remains one of our highest conviction calls globally, benefitting from substantial undersupply of prime new space while the growth of e-commerce and demand for expedited supply chains continues unabated, accelerated by the effects of Covid-19.

“The transaction represents a rare opportunity to gain significant exposure at attractive risk-adjusted returns in an increasingly competitive landscape. We are pleased to be again working alongside LCP’s highly experienced and professional team as we deliver a best-in-class logistics park with occupier demand, technological advancements and environmental, social and governance principles at its core.”

Pierre Leocadio, Head of Investment, Europe at Oxford Properties, added, “This transaction presents an exciting opportunity to develop a market leading, prime logistics hub, alongside our trusted partner, LCP. Oxford is renowned for its ability to deliver major large-scale projects, and this aligns with our strategy to deploy capital at scale into the logistics sector. The inclusion of a new rail terminal in the masterplan allows us to create a site that has strong appeal to potential occupiers, while also helping reduce the environmental impact of its supply chain by reducing lorry traffic. The project will also create economic impact to the region through the creation of a significant number of local jobs.”

John Pagdin, Head of UK Logistics Capital Partners, commented: “We have been tracking this particular site for some time and are delighted to have secured the park alongside Oxford Properties. West Midlands Interchange is a fantastic opportunity to build out a uniquely positioned development scheme, allowing us to offer occupiers every possible size, scale, configuration and specification of unit with none of the usual planning delays or uncertainties often associated with schemes of this nature. We look forward to progressing first stage preparatory works and welcoming occupiers to this exciting project.”

The site was acquired from the shareholders of Four Ashes Ltd, a three way partnership including Kilbride Holdings and Grosvenor Group’s Indirect Investment business (Grosvenor).

Peter Frost, Director of Kilbride Holdings on behalf of Four Ashes commented: “Having successfully guided the development from its inception and earliest stages to development consent, we are pleased that partners Oxford Properties and LCP will bring funding and specialist expertise to enable the project to now fulfil its huge potential.”