Pan Asia logistics group Logos has launched a platform with an institutional investor, believed to be Singapore’s GIC, to hold a NZ$250m (€137m) development in New Zealand.
Logos, which declined to comment on the identity of its new partner said it acquired the 17.2-hectare infill development site in Otahuhu, Auckland with the partner.
The vendor, Toll Group, has agreed to a partial lease-back of the facility and will occupy a brand-new rail serviced freight forwarding complex on 7.6 hectares of the site.
Logos will re-develop the remaining 9.6 hectares into a logistics and intermodal estate on a speculative basis.
Darren Searle the head of Logos Australia and New Zealand, said the firm had been operating in New Zealand since 2018.
Searle said: “We’re committed to working with our partners and the local industry to further strengthen the logistics and distribution offering in this market through the development of modern, quality logistics and intermodal facilities.”