Project development and asset management company Logistics Capital Partners (LCP) has announced a €175 mln investment in a new build-to-suit logistics hub in Trecate, Northern Italy.
The scheme, dubbed LCP Trecate/Novara XXL, will comprise three buildings in total. Buildings A and B, comprising 162,235 m2, have already been prelet to XPO Logistics, whose client is luxury retail group Kering, the parent company of Gucci and Yves Saint Laurent, amongst other brands.
While the first two units are being developed on a built-to-suit basis, the third building, located in the city of Novara and with a surface area of 48,656 m2, will be constructed in the course of 2020 and remains available for lease.
'The Trecate hub is part of the broader strategy for the development of LCP at a European level, which currently involves major investments in Italy, France, Spain, the Netherlands and Belgium,' said Andrea Benvenuti, managing director for construction & development at LCP.
According to LCP, the new logistics hub will seek to obtain both LEED certification – Gold level for part A and Platinum for part B – and Itaca Protocol certification.
Sustainable design elements include the creation of a network of bicycle paths and green spaces, also serving the local community. The asset's green credentials will include sustainable energy production, recyclable construction materials, and attention to the quality of indoor environments.
The scheme has been designed by architect Marco Facchinetti and a team from The Blossom Avenue architectural studio.
'After the prestigious and successful projects for Amazon in Vercelli and Torrazza Piemonte, LCP is very proud to continue its development in Italy, and in particular in the Piedmont Region, with LCP Trecate XXL, an ambitious project that is extensive and rich in architectural, technological and environmental content,' Benvenuti concluded.
Global property manager Invesco Real Estate made a strategic investment in LCP at the end of last year, which the two firms said at the time would enable LCP to roll out a €1 bn development programme over the next three to five years.
