Newport Logistics Fund is financing the development of a 100,000sqft speculative warehouse by Panattoni in the UK.
Panattoni and the Newport Logistics Fund III recently acquired a five-acre development site at Yeomans Drive in Milton Keynes from Tesa UK, the former occupier.
The development is the first for Newport Logistics Fund III, a pan-European fund that was launched last August to finance the development, leasing and sale of modern, sustainable logistics properties.
The Newport fund series aims to finance the complete development cycle of European logistics warehouses, encompassing land acquisition, construction, leasing and sale, with a target annual return of 15%.
Szymon Ostrowski, managing director of Newport Logistics Fund, said: “This first development for Newport Logistics Fund III reflects our commitment to creating sustainable, high-quality logistics assets in key European markets.
“Milton Keynes is a prime location with strong occupier demand, and this investment aligns perfectly with our strategy to deliver modern facilities that meet evolving ESG standards and generate attractive returns for our investors.”
James Watson, head of development, Southern England & London at Panattoni, said: “Panattoni is offering clients modern, high-quality, sustainable space in a prime location. This investment aligns with our strategy to deliver best-in-class facilities to meet occupier demand.”
Panattoni will submit a detailed planning application for the development, Panattoni Milton Keynes 100, in the second quarter of this year.
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