Pan-European logistics development and asset management platform Logistics Capital Partners (LCP), has acquired a 28.3-hectare site located in Cremona, northern Italy, for a new development project.
Strategically located near the A21, linking to Piacenza, Milan and Brescia, the site was acquired off-market from a private landowner, introduced by DTRE agency group from London.
LCP plans to speculatively develop up to 135,000 m3 of lettable area across two divisible cross-docked buildings with construction due to commence by Q4 2021.
Will Mullins, associate at LCP, said: 'We are delighted to have secured this site off market. Large scale, zoned land plots in Italy are hard to find, particularly in Lombardy.
'Cremona is the next logical opportunity to create a new large-scale park, given the lack of Grade A operationally efficient warehouses available in the surrounding regions.'
Gianluca Fantoni, director of development in Italy at LCP, added: 'The regular shape of the site will enable our designs to utilise the plot efficiently, allowing the flexibility to provide for various occupier sizes and requirements.
'Our proximity to the A21 gives potential tenants the ability to access a large pool of consumers and reach most of northern Italy’s main urban centres within a 2-hour drive time.
'Our intention is to start with further speculative development of our typical market leading quality buildings equipped with the latest environmentally sustainable energy features, and we will of course still be able to offer a mix with built-to-suit development.'
LCP's development activity across Italy currently involves new strategic logistic parks to the west, east, and south of Milan.
The Cremona project follows LCP’s announced first Italian speculative development in Turin, and builds upon its record of build-to-suit developments for the likes of Kering in Trecate, Amazon in Torrazza Piemonte, Vercelli and most recently Cividate al Piano.
