European logistics warehouse specialist Delin Property has acquired a 2.2-hectare site in Coslada, the prime logistics hub to the east of Madrid, on which it will deliver a 13,363 m2 facility targeting the highest sustainability standards.
Delin Property will completely refurbish the existing 9,068 m2 warehouse on the site and build a 4,300 m2 extension to it, with completion of the works scheduled for late 2024.
The enlarged facility will feature more than 2,000 m2 of high-end office space, giving the future occupier the opportunity to establish a headquarters there. The building’s specifications mean it will be suitable for distribution, storage or a mixed operation.
Tom Wattles, CEO of Delin Property, said: 'This is an exceptional opportunity to deliver a state-of-the-art, last-mile logistics warehouse – exactly the kind of facility for which there is tremendous demand in this strategic location. It’s the start of our renewed expansion in the Spanish market, having already developed two existing logistics parks in the Greater Madrid area.'
Savills advised Delin Property on the transaction.
