Invesco Real Estate has partnered with GARBE Industrial Real Estate GmbH (GARBE) to develop a logistics site of c. 51,097m2 in Worksop, located in the prime East Midlands logistics UK market.
The two-unit scheme, comprising separate facilities of c. 42,920m2 and 8,051m2 spread over c. 11.7ha, will see construction commencing in September 2024 and completion in Q3 of 2025. Both units target BREEAM Excellent and EPC A+ standards.
Strategically located in the East Midlands, Worksop benefits from a catchment area of approximately 3 million people within a 45-minute drive time, with the major cities of Manchester, Birmingham, Nottingham, and Sheffield reachable within less than a two-hour drive. The site is located equidistant between the M1 and A1(M), providing easy access to the UK’s national motorway network.
Chris Hornung, Country Head & Managing Director at GARBE UK, said “This is an excellent opportunity to capitalise on the dearth of supply of large logistics units of 450,000sq ft (41,806m2) plus in the region. This development is in line with our strategy to speculatively develop in undersupplied markets with the added benefit of Worksop providing occupiers with a strong labour pool.”
Rob Johnston, Managing Director - Head of Investments, UK & Nordics at Invesco Real Estate, said: “We’re delighted to be partnering with GARBE to secure this rare opportunity to acquire a prime logistics site in the East Midlands and to further expand our UK and European logistics portfolio.”
GARBE and Invesco were advised by agents Atlas Real Estate.
Carter Jonas, DTRE and Moriarty & Co have been appointed as joint letting agents.
Image source - Pexels.
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