Goodman, global integrated property group, and Anglesea Capital have formed a strategic development partnership that will initially deliver 930,000 sq ft of logistics space in 2015, with a 323,895 sq ft building in Derby.
Construction will commence on three Goodman owned sites across the UK in early 2015: Derby Commercial Park, Andover Business Park and Kingsnorth Commercial Park.
The units sizes will be 323,895 sq ft at Derby, 336,800 sq ft at Andover and 266,570 sq ft at Kingsnorth and will be ready for occupation in H2, 2015.
Charles Crossland, managing director at Goodman UK Logistics, said: "We are delighted to enter into this partnership with Anglesea Capital. With strong demand for logistics space across the UK and the lack of Grade A space available, we feel this is the right time to drive our existing land bank forward."
Anglesea Capital’s Rhys Lewis added: “Goodman isa leading developer in the UK market. In the next 12 months there will be continuing opportunities to develop new grade A stock.” Anglesea has entered into a joint venture with Lone Star Real Estate Fund III who will provide funding to the partnership."
Subject to approval, Goodman expects to start construction on the 323,895 sq ft building at Derby Commercial Park early next year. Covering an area equal to the size of three football pitches, it is expected to be ready next summer.
Stuart Waite, associate director at Innes England and joint agent on the scheme, said: "This is a real boost for Derby and an endorsement for Derby Commercial Park as one of the key logistics schemes in the region and the country. Active in the market at the moment are retailers, third-party logistics operators and the automotive sector.
"There's a lack of standing stock, so supply and demand dictates that it is the right time to build and Goodman has decided to position itself ahead of the competition."
Read the Derby Telegraph article here: http://www.derbytelegraph.co.uk/DERBY-TRIANGLE-Plan-aims-8216-build-success-Pride/story-24564122-detail/story.html