Global property group Goodman and real estate investment manager Europa Capital have established a joint venture to acquire land sites suitable for the development of distribution and logistics property across the UK.
Global property group Goodman and real estate investment manager Europa Capital have established a joint venture to acquire land sites suitable for the development of distribution and logistics property across the UK.
The joint venture is able to invest in immediately deliverable land in prime locations that have outline planning permission, and to undertake the development of logistics facilities on a pre-let basis. It will have a particular focus on land in the Midlands and South East, with investment opportunities sourced separately to Goodman’s existing UK Logistics land bank.
The joint venture will actively seek to recycle assets and has the capacity to invest up to £60 mln (EUR 69 mln) at any given time.
The first land site to be acquired by the joint venture is a 6.5-hectare site in Aylesford, Kent, located close to the M25 and M20 motorways. Goodman and Europa are expected to submit a detailed planning application within the next month.
Goodman will use its expertise in warehouse and distribution development, master planning and property management to develop comprehensive and sustainable logistics properties. The developments will range from 4,600-m2 upwards and cater for the future needs of modern-day logistics service providers.
CB Richard Ellis acted on the transaction.
