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Tag: Real Estate

UKREiiF Leeds

Posted on by David Priestman

UKREiiF connects people, places, and businesses to accelerate and unlock sustainable, inclusive, and transformational investment.

This 3-day event is the perfect storm. Bringing together a spectacular array of key decision-makers from every area of the built environment, including the public sector, with every core UK city and region involved, alongside government, investors, funders, developers, housebuilders, and more.

UKREiiF has become the must-attend event in the industry

The sheer number of regional combined authorities, local councils, and government departments that attend UKREiiF every year – as well as the largest investors, developers, and end-users from across the UK (and internationally) – supports this statement.

Get your tickets to be amongst all the key players, influencers, and decision-makers within the investment and real estate markets who are preparing to gather in Leeds. mission statement: UKREiiF connects people, places, and businesses to accelerate and unlock sustainable, inclusive, and transformational investment.

As the 2025 event looms closer, the organisers are excited by the sheer size and potential of what’s on offer.

This 3-day extravaganza is a perfect storm – bringing together a spectacular array of key decision-makers from every area of the built environment: the public sector – with every core UK city and region involved – alongside government, investors, funders, developers, housebuilders, and more.

Check out these numbers for 2025:

16,000+ Event Attendees
2,500+ Fringe Event Attendees
1,250+ Speakers
60+ Stages
150+ Exhibitors
150+ Fringe Events
275+ Local Authorities Attending
1,750+ Investors Attending
1,000+ Occupiers Attending
1,750+ Developers Attending

The UK needs this platform for the public sector to showcase the scale of development progress and profile future investment opportunities to investors, developers, and occupiers from around the globe that are based right here in the UK – this event does just that.

Professional Big Box

Posted on by David Priestman

Peter MacLeod asks directors of Tritax Big Box about some of the specific challenges facing the UK industrial property development sector.

Tritax Big Box Developments is making waves in the warehouse development sector. It describes itself at the UK’s largest logistics development platform with around 40 million square feet of
developable space, over 100 assets across the UK, and the UK’s largest portfolio of logistics investment assets. I fired questions at a few of Tritax’s senior directors to find out more about the challenges and opportunities that lie ahead for the company, focusing initially on sustainability.

I asked Alan Somerville, ESG Director, Tritax Management, what denotes a sustainable warehouse, and what are Tritax’s customers seeking. He replied that the definition of a sustainable
warehouse is one that is energy efficient, low carbon, has a resilient power supply, features onsite renewables such as solar, has internal and external infrastructure for staff wellbeing, and one which is effectively connected by different forms of transport.

“Our customers are seeking buildings which are fit for their operations both today and tomorrow,” said Somerville. “Buildings which are cost effective, efficient, aligned to their own corporate
sustainability ambitions and the best possible workplace for staff.”

Accommodating Automation

Turning to Mark Fergusson, head of client engagement, Tritax Big Box REIT, I asked what considerations have to be taken into account to ensure a warehouse can handle today’s levels of automation. “There are a number of considerations we as a leading developer landlord are incorporating into our solutions for clients, recognising the increasing role automation is playing in their operations,” he replied.

“Specification – Automation requires a high-quality floor, whether that is for the additional load bearing to accommodate high bay cranes or facilitate the smooth movement of autonomous robots
supporting picking operations. We are also seeing clients demanding higher minimum eaves heights to either support high bay automated ASRS cranes or install mezzanine floors and conveyors
for co-pack and picking operations.

“Power – The increased levels of automation is also resulting in clients needing access to greater levels of power (ideally from sustainable sources) both to fulfil their existing requirements as well as catering for the likelihood of further automation and the additional power required in the future. This is accelerating the deployment of solar PV on our existing assets as well as it being a standard feature of all of new units to reduce the reliance on the grid.

“People – It is important that those warehouse operators deploying automation have access to skilled labour like engineers who can support the technology. We are seeing a number of clients partnering with local colleges and offering apprenticeships to increase the numbers of engineers with the right skills in the labour force.

“Flexibility – The types of operation and activities being automated is accelerating and the return on investment for the deployment of these solutions is looking increasingly attractive. It is therefore key we ensure the assets we develop and own provide our clients with the spec, power and access to people. This should ensure operations have the flexibility to accommodate new innovative
automated solutions deployed in the medium to longer term which will undoubtedly end up being a common feature in the warehouse of the future.”

Finally, with greenfield sites becoming harder to obtain due to both legislation and physical availability, I asked Jonathan Dawes, head of planning at Tritax Big Box Developments, how difficult this has actually become. He responded by saying: “Despite a continued Government focus on ‘brownfield first’, there are not enough brownfield sites to accommodate all development requirements and meet the Government’s growth agenda. As such, there will be a need for greenfield development for all use types. The current planning environment reform maintains a strong focus on residential development. We would like to see industrial and logistics development addressed in the same way as it’s essential that there is sufficient infrastructure in place to support these new homes.

“Local Authorities and statutory bodies are increasingly stretched and underresourced. The planning system is also increasingly being asked to consider more: Biodiversity Net Gain; Climate
Change; Energy; Sustainability. It is a very complex and challenging landscape to navigate, and the system as a whole is still not aligned with the Government’s pro-growth agenda.

“The devolution agenda adds a further layer of complexity/uncertainty, albeit for logistics, will hopefully address the ‘larger than local’ needs of the sector, with Spatial Development Strategies
recognising and meeting this – the key ask remains for a standard employment need methodology.

“It is not becoming harder to develop on greenfield sites per se: the challenges and timescales of achieving planning permission remain, such that an experienced development partner is essential to navigate this process, and in the short term at least, it is not going to get any easier as the planning reforms/devolution play out.”

Given its market position, Tritax is well-placed to comment on the sector. It remains a challenging yet ultimately worthwhile business to be a part of, as consumers continue to seek greater flexibility and availability of goods.

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French Warehouse Platform Grows Footprint

Posted on by David Priestman

Castignac, the French logistics platform owned by leading global alternative asset manager, Brookfield, today announces the acquisition of three prime location assets in France. The c. 1,154,500 sqft off-market portfolio comprises a 588,258 sqft site in Riom, a 406,941 sqft site in Vert-Saint-Denis and a 159,350 sqft site in Grenay. The Riom site is leased while the other two sites are available to let.

These acquisitions take the Castignac portfolio to 30 assets and projects worth over €1 billion under management. They follow the addition of warehouses in Paris, Lyon and Orleans to the portfolio last year. Castignac’s continued focus is on investment in strategically located supply chain facilities to meet tenant demand for Grade A assets with tactical transport links to major hubs in France and elsewhere in Europe.

The deal was brokered by Cushman & Wakefield with DLA Piper acting as lawyer and Etude NOTER as notary. Ireo carried out technical due diligence, while ICPE and environmental due diligences were undertaken by Andine GROUP.

Julien Claude Bouilly, Managing Director, Head of Investments and Asset Management, Castignac, said: “This off-market portfolio acquisition concludes an exceptional investment year in 2024 for Castignac. This strengthens our strategic presence in Paris and Lyon, which are key logistics hubs in France. We are pleased to expand our presence in these critical areas, enabling us to better assist both existing and new tenants in strengthening their supply chains so they remain agile as markets continue to evolve.”

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French Sustainable Warehouse Portfolio Acquired

Posted on by David Priestman

AXA IM Alts, a global leader in alternative investments with over €185 billion of assets under management, announces that it has signed a preliminary contract to acquire, on behalf of clients, six Grade-A logistics properties in France, from a Joint Venture owned by CBRE Investment Management and Virtuo Industrial Property.

The c. 190,000 sqm portfolio comprises five completed properties, ranging from c. 20,000 sqm to c. 43,000 sqm, all constructed since 2020. They are 100% occupied by a mix of domestic and international businesses across manufacturing, distribution and 4PL sectors*. Construction of a sixth, c. 37,000 sqm warehouse, in the North of France, will complete by the end of this year.

In line with AXA IM Alts’ global sustainability approach, the completed assets have been built by Virtuo Industrial Property with the aim of achieving a very high ESG standard, having utilised 100% LED lights. The three Southern assets feature solar PV rooftop panels, exclusively dedicated to tenants’ auto consumption. All the properties are located in strong macro locations in the major logistics markets of Lille, Lyon and Provence-Alpes-Côte d’Azur.

This transaction will further extend AXA IM Alts’ exposure to the French logistics market, where vacancy in many markets remains at or near historic lows[2]. Once completed, the acquisition will bring AXA IM Alts global direct equity logistics platform to over 7.5 million sqm across 14 countries, representing a total value of c. €11 billion in assets under management globally[3].

AXA IM Alts retains its long-term conviction for high-quality logistics assets in strategic locations, as supported by strong leasing dynamics and favourable supply/ demand metrics driven by shifts in worldwide consumption habits.

Louis Leveillé-Nizerolle, Head of Transactions France, at AXA IM Alts comments: “This is an excellent opportunity to further our exposure to one of our leading conviction sectors through the acquisition of a high-quality portfolio. Demand for modern warehouse and distribution space offering strong ESG credentials continues to strengthen, driven by the growth of e-commerce, multi-channel retail and ongoing supply chain reconfiguration. Furthermore, occupiers are increasingly seeking the most sustainable space to align with their own corporate obligations. This portfolio provides an attractive mix of secured income coupled with interesting leasing opportunities which will enable us to drive value for our clients over the longer term.”

DTZ Investors Acquires Logistics Park

Posted on by David Priestman

DTZ Investors has completed the acquisition of Coventry Logistics Park for £140,415,000, one of the highest quality multi-let logistics schemes in the UK.

Coventry Logistics Park comprises three newly constructed logistics units with a total GIA of 784,989 sq. ft on a site extending to 43 acres. The Property is fully let to three tenants; DHL, Geodis and Viad, with a weighted average unexpired lease term (WAULT) of 11.81 years and was fully pre-let during construction. The asset generates a rent of £6,540,132 per annum and is secured against strong tenant covenants with all three leases comprising attractive rent review mechanisms capturing the higher of open market value or CPI index linked increases.

The property has achieved one of the highest BREEAM ‘Outstanding’ ratings in the UK and all three units have A EPC ratings. Other key sustainability credentials include photovoltaic panels situated on all three roofs, air source heat pumps used as the primary source of heating for the warehouse areas, a high provision of electric vehicle charging points and both communal and demised cycle storage across the site. The asset recently won Best Overall Scheme in the Logistics Park category at the IAS Awards 2023.

Coventry Logistics Park is located to the north east of Coventry city centre, a core logistics location within the context of the ‘Golden Triangle’. The site is strategically situated 0.7 miles from Junction 2 of the M6 motorway which provides excellent connectivity to the M69, M42 and M1 motorways. The core nature of the location is supported by the strong tenant line up.

Tom Royston, Director at DTZ Investors commented: “Coventry Logistics Park is a high quality multi-let logistics asset that is well aligned to the fund’s investment strategy. The property benefits from an excellent specification and is market leading in terms of its sustainability credentials. The low average passing rent, in conjunction with reversionary potential and the attractive rent review mechanisms, results in the asset forecast to deliver an attractive risk-adjusted return.”

James Fairweather, Head of Industrial & Logistics Investment at BNP Paribas Real Estate added: “We are delighted to have advised DTZ Investors on this prime logistics transaction which reinforces the desirability of ‘best-in-class’, sustainable, logistics property in a market constricted in supply. Coventry is a premier logistics location as demonstrated by the depth in occupational demand and continued rental growth, particularly for the highest quality units which this property offers.”

BNP Paribas Real Estate advised DTZ Investors on the purchase whilst DTRE acted for Bericote and institutional investors advised by J.P. Morgan Global Alternatives.

St. Modwen Logistics Acquires Distribution Hub

Posted on by David Priestman

St. Modwen Logistics, one of the UK’s leading logistics owners and developers, has acquired a 267,000 sq ft logistics unit in Bilston, Wolverhampton, West Midlands.

The unit, known as the Titan 10 Distribution Centre, is let to Pallet-Track, one of the UK’s fastest growing palletised freight distribution companies, originally formed in nearby Wednesbury. The facility has been home to Pallet-Track for more than 15 years and serves as its central UK hub, handling an average of 8,000 pallets per night and servicing its distribution network depots.

Located in the heart of the Midlands, the building is just a ten-minute drive from junction 10 of the M6 motorway corridor and is only 15 miles from Birmingham city centre, offering excellent national road connectivity. It sits in the UK’s logistics ‘golden triangle’, from where 90% of the UK population can be reached within four hours’ drivetime.

James Cooper, Head of Transactions at St. Modwen Logistics, commented: “This transaction represents a rare opportunity to acquire a high-specification distribution facility which is let to a leading UK business, in the ‘golden triangle’. This asset is a great example of the business-critical logistics facilities we are acquiring as part of our wider aggregation strategy.”

Commenting on the deal, Andrew Franck-Steier, Director at Atlas Real Estate, said: “We were delighted to be asked to sell the asset and it was great to have been involved in both the original funding and sale of the deal.” Atlas Real Estate acted for the vendor and Acre Capital Real Estate acted for St. Modwen Logistics.

St. Modwen is a property developer and manager owned by Blackstone focused on logistics and housebuilding. St. Modwen Logistics develops and manages urban and big box warehouses for customers including global logistics and e-commerce organisations as well as significant national and regional enterprises.

Modern Warehouse Space Meets Local Demand

Posted on by Keith McKinley

St. Modwen Logistics, one of the UK’s leading logistics developers and managers and a Blackstone portfolio company, has announced today that two local businesses have committed to a total of 62,000 sq.ft of modern warehouse space at St. Modwen Park Broomhall in Worcester, significantly expanding their operations in the area.

OBEX Protection, which manufactures and distributes protective construction solutions, has agreed to lease 47,000 sq.ft at the Park. OBEX, which will retain a 27,000 sq.ft base of operations at St. Modwen’s nearby Nunnery Park scheme, is taking this additional space to increase its manufacturing and distribution operations in response to a rapid growth in demand for its products in recent years.

Automotive and tech distribution company Nemesis is also following suit and will almost double its footprint with St. Modwen by signing for 15,000 sq ft of space at SMP Broomhall whilst retaining its 19,000 sq ft unit at Nunnery Way.

Planning permission for the third and final phase of development has also been secured with the construction of two units – 40,000 sq.ft and 32,000 sq.ft – set to begin later this summer. The development will create 95 jobs across a diverse range of employment types and has been supported by local employment groups including Worcestershire Education Business Partnership and the LEP Skills team.

Situated on the southern outskirts of Worcester, St. Modwen Park Broomhall is located just one mile from Junction 7 of the M5, which provides easy access to the wider Midlands, the South West and South Wales, as well as the wider national infrastructure networks. The Park benefits from a strong workforce catchment located within five miles of the site and has been delivered in line with St. Modwen’s ‘Swan Standard’ of sustainable development, benefiting from an EPC A rating and EV car charging provision, and achieving net zero embedded carbon.

Peter Davies, Development Director at St. Modwen Logistics, commented: “Supporting customers and helping them to grow is the cornerstone of our business and so we were naturally delighted when both OBEX and Nemesis asked us to support them again with their expansions. It’s fantastic to see two local businesses growing in this way, and even better that they are able to remain in the local area as a result of our development at St. Modwen Park Broomhall.

Rob Francis, Director, OBEX Protection, said: “Following a period of rapid growth, we are excited to announce an expansion into a new 47,000 sq.ft unit which will provide crucial support for our operations. It was important for us to remain in Worcester where the company was founded and having worked closely with St. Modwen since July 2020 we had no hesitations about agreeing a deal to move in to St. Modwen Park Broomhall.”

Chris Chance, CEO at Nemesis, added: “There is a dearth of modern, high-quality warehouse space in the area that supports our long-term sustainability goals. We are very pleased to a have secured new premises at Broomhall which will allow us to maintain our trajectory and attract the staff we need.”

St. Modwen is a property developer owned by Blackstone focused on logistics and housebuilding. St. Modwen Logistics develops and manages urban and big box warehouses for customers including global logistics and e-commerce organisations as well as significant national and regional enterprises.

European Logistics Footprint Strenghtened

Posted on by Keith McKinley

Hines, a global real estate investment, development, and property manager, has acquired five logistics assets across three separate transactions from different vendors throughout the UK, Spain, and The Netherlands on behalf of its Hines European Property Partners (HEPP) core-plus fund.

In the current macro-economic climate, investor appetite for high quality logistics assets remains healthy, backed by strong occupier demand and robust operating fundamentals. The locations of the assets are strong, with the majority of the assets in The Netherlands situated adjacent to Schiphol Airport, the Spanish asset is five minutes from Terminal 2 at Aeropuerto Josep Tarradellas Barcelona-El Prat, and the UK asset is located in Warrington in an urban location, all benefiting from superior transportation links.

Consistent with Hines’ value-focused logistics acquisition strategy, in addition to the high-quality locations, the five assets are highly functional for the needs of their current and future occupiers and were acquired at an attractive capital value basis, reflective of the current market environment, and at a material discount to replacement cost. All of the assets are leased in their entirety, with a weighted average unexpired lease term of approximately 7.5 years.

Last year Hines completed approximately €1.4 billion of logistics transactions across Europe, and currently has approximately 744,000 square metres of logistics assets under construction throughout Europe including the Czech Republic, France, Germany, Italy, Poland, the Netherlands, Spain and the UK, increasing its logistics assets under management and development in Europe to approximately €3.2 billion1.

Jorge Duarte, fund manager of HEPP at Hines, said: “These acquisitions reflect our value and income-focused logistics aggregation strategy to carefully pinpoint well located assets within Europe’s most dynamic regions, at attractive prices, particularly in the context of the current market environment. We remain focused on acquiring attractively priced income producing assets throughout Europe, which we can add value over time through proactive asset management and a focus on ESG.”

Logistics Investors set to focus on ‘First Mile’

Posted on by David Priestman

There could be increased appetite from investors for ‘first-mile’ logistic assets as global supply chain disruption drives a need for firms to improve upstream, business-to-business supply chain logistics, according to a new report from leading global property advisor Knight Frank.

Knight Frank’s latest Future Gazing Report explores the changing requirements and opportunities for first mile logistics, including how the need for increased resilience is driving a reconfiguring of supply chains, evolving infrastructure requirements and the relocation of manufacturing hubs. The report also analyses the areas in which these trends could create new opportunities and requirements for industrial and logistics real estate.

Knight Frank’s report explores how firms’ safety stock requirements increase in line with upstream spikes in supply lead times. If safety stock accounts for 20% of a firms’ UK inventory, and maximum lead times increase from 100 days to 140 days (or 40%) due to supply chain shocks generated by trade tensions, labour shortages and COVID-related shutdowns and shipping disruptions, firms need to raise their total inventory holdings by c. 8% to protect their order books.

As well as holding additional safety stock, many manufacturers are planning to diversify and invest in their supply chains to improve visibility and security, which could provide opportunities to grow UK manufacturing as firms weigh up the benefits and costs of reshoring operations.

Firms across a range of industries are considering reshoring. According to Knight Frank’s analysis, reshoring discussions are currently most prevalent among pharmaceuticals and healthcare-related industries, supplemented by automotive firms, including those focused on alternative fuel vehicles, technology and biotech firms. A relocating or diversifying of production bases will likely necessitate a change in the configuration of the supply chain.

Knight Frank analysed and ranked 41 UK ports based on their suitability for future logistics investment and development given their potential role in shortening supply chains and mitigating supply disruption. Accounting for various factors including port capacity, import and export growth forecasts and access to consumer markets and labour, the analysis found that Liverpool, ranking first for forecast export growth and in the top three for access to consumer markets and skilled labour, emerged as the top location for port-centric logistics potential. Grimsby & Immingham and London ranked second and third.

Claire Williams, Industrial and Logistics Research Lead at Knight Frank, commented: “The rise of e-commerce has led to considerable change at the consumption end of supply chains, with additional costs and facilities being allocated to this part of the supply chain in order to raise service levels and reduce delivery times. However, rising costs and delays at the production end of the supply chain are driving a rethink of the locations of these facilities and the transport connections linking them to downstream operations.

“There is increasing awareness of the opportunities in the first mile of the supply chain. As we enter the next phase of the economic cycle and perhaps a new era for global trade, logistics investors and operators must look to supply chains, assets and opportunities that can provide stability for their operations and returns. First mile markets can enable firms to build and maintain a secure and responsive supply chain for their end users. This demand will continue, with the potential to create attractive opportunities for income-driven investors looking to deploy capital into assets underpinned by strong structural tailwinds.”

Logistics Property Firm Appoint Poland MD

Posted on by David Priestman

The Accolade group, which invests in premium industrial and logistics property, has a new addition to its team. Jarek Wnuk, with his more than 21 years of experience in the commercial property sector, is the new Managing Director for Poland. He has previously worked for international real estate agency and global investment and development companies.

“I’ve been following the success Accolade have had in building a portfolio of modern industrial parks for a long time now. In terms of industrial, logistics, and manufacturing infrastructure, the Polish market is one of the fastest growing in Europe. With that in mind, I consider the consolidation and development of Accolade’s position in that market a significant challenge which I’m looking forward to immensely.” said Jarek Wnuk, who, in his role as Managing Director for Poland, will be responsible for managing Accolade‘s activity in Poland as well as the development of the project portfolio and finally for the preparation and implementation of fundraising activities.

“From a strategic perspective, Poland is a very important market with huge potential and I believe that Jarek’s extensive experience in the commercial property sector will be an enormous plus for us,” remarked Accolade Group CEO, Milan Kratina. Accolade owns 26 logistics parks in Poland, the total leasable area of which is approaching 1.5 million m². The group has so far invested nearly 28 billion CZK (over a billion EUR) in Poland and are planning to plough a further 12 billion CZK (around half a million EUR) into Polish activities.

Before joining Accolade, Jarek Wnuk was General Manager and a member of the board at private equity firm Bluehouse Capital. Previously, he held senior management positions at logistics and property companies Goodman and King Sturge. Jarek Wnuk graduated from the Faculty of Finance and Banking at the Warsaw School of Economics, along with completing a year of study at the College of Estate Management in Reading.

Accolade Holding, a.s. operates in six European countries, where it invests in modern and sustainable infrastructure for global e-commerce, manufacturing and logistics brands. It owns a network of 45 BREEAM-certified industrial parks in the Czech Republic, Poland, Germany, Spain, the Netherlands and Slovakia, guaranteeing a sustainable and environmentally friendly approach. The group has now completed 2.6 million m2 of commercial properties, which it leases to almost 260 tenants worldwide. More than 8 million m2 are in the pipeline.

Accolade also invests in brownfield redevelopment. Their share in the company’s portfolio is currently around one third. A building in the redeveloped compound of Strojírny Cheb became the first project in the Czech Republic to receive the Outstanding grade and a record score of 90.68% according to the BREEAM global sustainability rating. In 2014, the group established the Accolade Industrial Fund (Accolade Fund SICAV p.l.c.), an industrial real estate fund open to qualified investors, of whom it now has over 2,800. The value of the fund’s portfolio has exceeded 1.4 billion EUR. It has ranked as the best performing real estate fund in the Czech Top Real Estate Funds ranking several times in a row. In 2017, the group bought the operator of the second busiest airport in the Czech Republic, Brno-Tuřany, and is preparing a polygon near Stříbro to serve as a research centre for the development and certification of autonomous driving vehicles.

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