BentallGreenOak commence forward funded development of two prime logistics assets in Peterborough, UK
- Demonstrates BentallGreenOak's continued conviction for Europe's logistics sector
- To date, BentallGreenOak has acquired in excess of 30m sq.ft. of logistics assets across the UK, France, Germany, Spain, Italy, Belgium, and the Netherlands
London, (July 8, 2019) — BentallGreenOak announced the purchase of two land plots totaling 32.6 acres and the forward funding of two high-quality prime logistics assets in Peterborough, UK as part of the company's strategy to acquire assets in Europe's key logistics nodes.
The development forms part of the wider Peterborough Gateway logistics park that has direct access to the A1M motorway and where occupiers include Lidl, DPD, DSV, Urban Outfitters and Yearsley.
The development will comprise two buildings, a 385k sq.ft cross-docked unit with an eaves height of 15m and a 226k sq.ft. unit with an eaves height of 12.5m. Construction for both buildings will start on site in September 2019 and will be completed in Q2 2020. Roxhill have been appointed as Developer for the project with Winvic acting as general contractor.
The investment represents BentallGreenOak's entry into the UK logistics market, further expanding an investment program focused on the European logistics sector which over the past five years has acquired in excess of 30m sq.ft. of assets. The platform consists primarily of large, modern facilities, leased to a diversified list of tenants. Locations include key gateway logistics nodes and capital cities of Europe, such as Paris, Lyon, Munich, Madrid, Milan, Brussels, and Venlo.
JLL advised BentallGreenOak on the transaction and has been retained as letting agents along with Burbage Realty and Bidwells.
Toby Phelps, Managing Partner of BentallGreenOak commented, "Our investment at Peterborough Gateway builds on our extensive track-record in the logistics market throughout Europe. At Peterborough, we are able to bring forward the remaining two plots on a very established logistics park, benefitting from a strategic location within 100 miles of London and the UK's busiest container port at Felixstowe. The success of this logistics park has been driven by the quality of the location and access to an excellent labour supply and we look forward to delivering these two units to the market in Q2 2020."
About BentallGreenOak
BentallGreenOak is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services. BentallGreenOak serves the interests of more than 750 institutional clients with approximately $46 billion USD of assets under management (proforma as of March 31, 2019) and expertise in the asset management of office, retail, industrial and multi-residential property across the globe. BentallGreenOak has offices in 22 cities across nine countries and three continents with deep, local knowledge, experience, and extensive networks in the regions where we invest and manage real estate assets on behalf of our clients. BentallGreenOak is a part of SLC Management which is the institutional alternatives asset management business of Sun Life Financial Inc.
BentallGreenOak includes BentallGreenOak (Canada) Limited Partnership, BentallGreenOak (U.S.) Limited Partnership and the real estate and commercial mortgage investment groups of certain of their affiliates, all of which comprise a team of real estate professionals spanning multiple legal entities. The assets under management shown above include real estate equity and mortgage investments of the companies within BentallGreenOak.
For more information, please visit www.bentallgreenoak.com
Media Contact for BentallGreenOak:
Harriet Sloane
Prosek Partners
+44 (0)20 3878 8562
hsloane@prosek.com
