ICG Real Estate has let a 215,000 sq ft unit to global transport and logistics company DSV at Mercia Park in the heart of the ‘Golden Triangle’.
The letting takes DSV’s footprint at the 238-acre site to more than 500,000 sq ft.
In 2021, ICG agreed to forward-fund Mercia Park on behalf of its Strategic Real Estate I fund, with Jaguar Land Rover taking the entire 2.94m sq ft scheme. However, following a strategic lease surrender on two units comprising 530,000 sq ft, ICG subsequently agreed lettings with DSV.
Chris Nichols, head of strategic real estate at ICG, said: “This agreement reflects Mercia Park’s appeal as a prime logistics hub, attracting major global occupiers in response to the growing demand for high-quality, well-located facilities. As the largest asset in our SRE I portfolio, it is already a key driver of returns, while this most recent value add initiative delivers rental uplifts well ahead of our projection, further underpinning our conviction in the quality of the asset.”
