AXA IM - Real Assets has acquired a 32-acre prime logistics freehold site near Dunstable, 20 miles north of London. The site has been purchased on behalf of the Logistics Development Club and will be developed by Baytree Logistics Properties.
The site is strategically located near the recently completed Junction 11A of the M1 motorway, the UK’s main north-south arterial route, and benefits from upgrades of the local road network and infrastructure. The site has an existing planning consent for the development of up to 620,000 ft² of grade A logistics space, across two buildings and benefits from a 3 MVA power connection.
The first unit, totalling 263,000 ft², will be developed without any pre-let. Construction is due to commence in second quarter 2018 with practical completion expected by year-end. The specification of the building includes 15m clear internal warehouse height and a 53m deep service yard. BREEAM “Excellent”, EPC “A” and WELL certifications are expected to be achieved.
