BentallGreenOak enters UK logistics market via forward funding development
BentallGreenOak, formed following the merger of Bentall Kennedy and GreenOak Real Estate, has entered into the UK logistics mark via a forward funding development.
The $46bn global real estate manager has acquired two land plots and will forward fund the development of two logistics assets in Peterborough.
The development forms part of the wider Peterborough Gateway logistics park and construction for both buildings will start on site in September and will be completed in the second quarter of next year.
Roxhill has been appointed as developer for the project with Winvic acting as the general contractor, the manger said.
BentallGreenOak said the investment further expands the firm’s investment program focused on the European logistics sector which over the past five years has acquired in excess of 30m sqft of assets across the UK, France, Germany, Spain, Italy, Belgium, and the Netherlands.
Toby Phelps, managing partner of BentallGreenOak, said: “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.”