Royal London Asset Management Property has acquired a 54-acre logistics site in Northampton’s Brackmills Industrial Estate. The strategic acquisition will anchor a major new development within the company’s growing logistics portfolio.
The site will become Royal London Asset Management Property’s largest logistics development. Working with Graftongate, Royal London Asset Management Property plans to deliver over 1.25 million sq ft of prime logistics space and an estimated gross development value of £340 million.
The freehold site includes an existing 312,831 sq ft distribution warehouse, which is now available for lease on short flexible terms.
Currently, Royal London Asset Management Property has £3.2bn in industrial assets across the UK.
Robert Kiernan at 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 at Graftongate said: “Brackmills 54 provides an opportunity to bring forward more than 1.25 million 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.
