Rockspring Property Investment Managers LLP has signed an agreement with Goodman, a leading global industrial property group, to develop a 28,760m² 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 27,400m² of warehouse space, featuring 32 dock doors and 1,360m² 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. Tenants will benefit from 11.8m free height, abundant natural lighting throughout, rain water capturing systems, enhanced insulation and the facility is expected to attain a BREEAM Good certification on completion.
The site is located in Sant Esteve Sesrovires in Can Margarit, a new industrial estate currently under development to the west of Barcelona. It offers easy access to the AP-7 and A-2 highways connecting the site to Barcelona. The new logistics facility will be ideally located for customers that serve both national and international markets, being only 35km from the port of Barcelona, which handles a quarter of all foreign trade out of Spain, with three quarters of this coming from Catalonia.
John Thompson, Director at Rockspring Iberia, commented, “We are thrilled to have secured this prime opportunity which, once complete, will perfectly complement our two Madrid logistics parks at Torrejón and Getafe. 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. We very much look forward to working with our partner Goodman over the coming months to ensure we reach this objective.”
Rockspring manages a portfolio of logistics assets totalling c. €0.8bn, 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.
Guillermo Ravell, Goodman Country Manager for Spain, said “Goodman has a longstanding reputation as an integrated property group, focused on owning, developing and managing industrial and commercial real estate. At the same time, Goodman is an agile company that provides property solutions for a range of different customers, including investors such as Rocksrping. We are pleased that our collaboration with Rockspring will soon provide the market with highly demanded quality logistics space in the Barcelona region.”
This is the second major development recently announced by Goodman in the Barcelona region. Goodman is nearing completion of a 40,000m² 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. The development marks an important milestone in the continued growth of Can Margarit as a logistics area.
