Specialist investor Bridges Fund Management and developer-invest Graftongate plan to plough £40 mln (€47 mln) into one of the UK’s most sustainable logistics developments.
To this end, the pair have acquired a 2.4-hectare site near Southampton and submitted a planning application to develop a 12,542 m2 industrial/logistics unit at Nursling Industrial Estate, near Junction 3 of the M27.
The new development will be net zero carbon in operation and will also target EPC A+ and BREEAM Outstanding.
This is Bridges’ first project with Graftongate, which has developed over 929,000 m2 of high quality industrial/logistics accommodation in the UK so far.
Henry Pepper, partner at Bridges, said: ‘We’re excited to work with Graftongate to build out another net zero carbon development in Nursling. There continues to be strong demand for logistics space on the South Coast, with relatively little supply – and we have seen from our previous developments that sustainable developments are becoming increasingly attractive to corporate occupiers.’
Alex Thomason, director at Graftongate, added: ‘We are very pleased to be working in partnership with Bridges to develop a site with enormous potential. We will be bringing forward plans for an industry-leading industrial development in a strategic location within Southampton’s prime distribution centre. Nursling has an established reputation within the UK logistics market, due to its proximity to national road networks and the international docks at Southampton, and we expect there to be significant interest in this development.’
JLL advised the vendor, while DTRE and Gowling WLG acted for Bridges and Graftongate.
