Royal London Asset Management Property has acquired a 54-acre logistics site at Brackmills Industrial Estate in Northampton for an undisclosed price.
Working with Graftongate, Royal London Asset Management Property intends to deliver more than 1.25m sq ft of prime logistics space at the site. The new development, which is the firm’s largest, will have an estimated GDV of £340m.
The freehold site features an existing 312,831 sq ft distribution warehouse, which is now available for lease on short flexible terms.
Robert Kiernan, from Royal London Asset Management Property, said: “The acquisition of this landmark site in Northampton represents a pivotal moment for our industrial and logistics strategy. Opportunities of this scale and prominence in the UK’s logistics ‘Golden Triangle’ are exceptionally rare. With its outstanding connectivity for transport and labour, the established occupier base nearby and flexibility to deliver a variety of unit sizes, this project will become a key development in our logistics portfolio.
“We are excited to deliver a best-in-class scheme with Graftongate that meets the evolving needs of occupiers and reinforces our commitment to long-term, sustainable value creation for our investors.”
Jamie Hockaday, from Graftongate, added: “Brackmills 54 provides an opportunity to bring forward more than 1.25m sq ft of prime logistics space in one of the UK’s most established distribution locations. The site’s scale, connectivity and access to a strong labour pool make it an exceptional proposition for national and international occupiers. We look forward to continuing our relationship with Royal London Asset Management Property to deliver a sustainable, best-in-class scheme.”
Royal London Asset Management Property was represented by Pinsent Masons and Apex.
