Global private markets firm Partners Group has formed a joint venture with UK logistics developer and operator Citivale to launch Greenbox – “a real estate platform to provide new-build industrial and logistics schemes with market-leading environmental credentials”.
Greenbox is targeting BREEAM Excellent, EPC A ratings and net zero carbon in construction for all of its assets, which will be built in strategic locations.
Its first development is Greenbox Thirsk – a development of three new industrial/warehouse units in North Yorkshire (pictured). The site has outline planning consent for up to 825,000 sq ft of manufacturing and logistics space and is scheduled to be ready for occupation from Q3 2024.
Romain Ruiz, member of management, private real estate at Partners Group, said: “We have a strong conviction in enhanced traditional logistics, particularly in the UK where our thematic research shows that occupier demand has remained resilient. We are delighted to be working in partnership with the Citivale team to build an industrial logistics platform to serve the UK market that will lead the way in sustainability, reflecting our focus on ESG.”
James Appleton-Metcalfe, founder of Citivale, added: “It’s an exciting time to be launching Greenbox, as the market is pushing forward in sustainable industrial development to provide much needed new, quality and future-proofed green industrial space to meet the strong tenant demand across the UK. In partnership with Partners Group, the JV will be actively seeking opportunities to scale the platform through development while creating a lasting, positive impact.”
Simon Hill, associate director, industrial and logistics at Colliers, who has been appointed joint letting agent with Carter Towler at Thirsk, said: “Greenbox Thirsk will help address the supply/demand imbalance of employment space in North Yorkshire by providing premium quality industrial stock. Occupiers locating here will benefit from first rate ESG credentials, a large employment catchment and excellent highway connections.”
“The development plans have been well received with several enquiries to date. We are in live discussions with a number of occupiers who are considering locating here and bringing new employment to the area. We look forward to progressing these discussions further.”
