Rockspring Property Investment Managers has signed an agreement with industrial property group Goodman to develop a 28,760 m2 logistics facility in Sant Esteve Sesrovires, near Barcelona.
Goodman will develop the new facility, with construction to start in August and completion expected by the end of March 2017. The property will be marketed and managed by Rockspring.
The grade-A logistics facility will provide 27,400 m2 of warehouse space, featuring 32 dock doors and 1,360 m2 of modern office space. The building will offer the possibility to divide the logistics centre into four separate units to function as a multi-customer logistics centre. The facility is expected to attain a BREEAM Good certification on completion.
John Thompson, director at Rockspring Iberia commented: 'Against a Barcelona market backdrop of strengthening occupier demand contrasted with a very limited supply of available quality stock, we believe this is an optimum point in the cycle at which to be developing and delivering to the occupational market this state-of-the-art scheme, which comes with the added benefit of Goodman’s expertise and track record.'
Rockspring manages a portfolio of logistics assets totalling €0.8 bn, located across the principal logistics markets in France (39.1%), UK (33.7%), Germany (10.5%), Spain (9.1%), Sweden (4.9%) and The Netherlands (2.8%).
Rockspring was advised by Hogan Lovells and ProEquity whilst Garrigues acted for the vendor.
This is the second major development recently announced by Goodman in the Barcelona region. Goodman is nearing completion of a 40,000 m2 logistics facility for Decathlon. The new facility will be handed over at the end of August and is one of the largest industrial real estate projects on the Spanish market today.
