Pan-European logistics development and asset management platform Logistics Capital Partners (LCP) has acquired a site in Turin, Italy with plans to speculatively develop a last-mile logistics warehouse.
Financial details were not disclosed.
The core urban site at Settimo Torinese is located 10 km east of Turin city centre, and directly fronts the main A4 Turin-Milan-Trieste arterial highway.
Andrea Benvenuti, managing director at LCP, said: 'We are excited to be underway with our first speculative project in Italy and having been trying to find the right project selection around Turin for some time.
'Given the site’s proximity to the A4 highway in addition to the limited supply and high demand for Grade A logistics space, LCP Settimo Torinese will appeal to a wide variety of occupiers. We have submitted our building permit application which allows us to already provide potential occupiers with certainty around our delivery timescales.'
The new project will comprise around 28,400 m2 of cross-docked lettable area. The planned facility will be specified to achieve a Breeam Very Good rating and equipped with sustainable energy features such as solar power generation, rainwater harvesting and recycling.
LCP anticipates delivering a completed development by year-end 2021.
LCP’s acquisition of Settimo Torinese follows other notable investments in Italy, including build-to-suit schemes for the likes of Kering (Trecate) and Amazon (Torrazza, Vercelli and Cividate). Further site acquisitions and speculative projects are expected to be announced very shortly, the company said.
