Industrial property giant Goodman has acquired the 16-hectare Leicester Commercial Park in the UK's East Midlands in a venture with Wilson Bowden.
The development site has been acquired by the Goodman UK Logistics Partnership (GUKP), an investment vehicle set up in 2015 for all logistics assets developed and sourced by Goodman. The transaction volume was not revealed.
'We are very pleased to have secured this prime site and further extend the range of development opportunities available for our customers for high-quality logistics space across our UK portfolio,' commented Goodman's commercial director Jason Harris.
'Leicester Commercial Park offers one of the UK’s most sought-after, strategic locations for logistics positioned directly in the heart of the logistics golden triangle. The development provides unrivalled access directly onto M1/M69 intersection and is ideally suited for distribution and logistics operations and opportunities throughout the East and West Midlands and wider UK motorway network,' Harris added.
According to Goodman, the site can accommodate up to 440,000 ft2 (40,000 m2) of Grade A industrial and distribution space. The development will be undertaken in partnership with British builder Wilson Bowden, the commercial property developer of housebuilder Barratt Developments.
'Goodman intend to submit an early planning application with a view to commencing development at the earliest opportunity. Due to the popularity of the location we expect to receive strong levels of interest for both build to suit and inventory buildings,' said Harris.
Since its launch, GUKP has completed around 1,000,000 ft2 of warehouse distribution space and has developed a secured development pipeline of £300 mln.
Avison Young advised Goodman on the acquisition and Mather Jamie Chartered Surveyors advised the land owner.
