Delancey and Coltham have launched a new UK logistics platform called Greenlight focused on developing “first-class, mid-box assets with strong sustainability credentials”.
Coltham will act as the development and asset management partner for Greenlight, which intends to deliver logistics buildings near major conurbations and transport arteries across the UK, that are BREEAM Outstanding and have an EPC A+ rating.
The joint venture will deliver developments that are net zero carbon in operation for the base build and will “seek occupier engagement to collaborate on maximising their energy efficiency and minimising consumption thereby reducing energy costs”.
Greenlight has already acquired five sites in Kings Heath, Redditch, Colnbrook, Milton Keynes and Reading, which will deliver more than 500,000 sq ft of mid-box logistics space within the next 18 months. The joint venture partners said they intend to further grow the pipeline in the near term.
Dan Dawe at Delancey said: “Whilst investment values have fallen significantly from their peak, occupational demand for well-located mid-box logistics space remains high and continues to grow with occupiers increasingly demanding first-class, sustainable space.
“There is a significant supply shortage and Greenlight will tap into this imbalance. Our chosen partner Coltham has an experienced management team, with extensive industrial and development expertise and we are looking forward to growing Greenlight together.”
Simon Pursey at Coltham added: “This partnership with Delancey provides us with the financial strength and industry expertise to access the best sites for this exciting strategy. Our first five developments epitomise our approach of investing into well located sites and committing to develop high specification facilities which have already attracted interest from numerous occupiers. The sustainability features we have included will future proof the asset while reducing tenants’ running costs and minimising its impact on the planet.”
