A 19-acre redevelopment site at Moulton Park, Northamptonshire has been snapped up by Gazeley, a GLP company and a leading investor and developer of logistics warehouses and distribution parks, to meet the evolving needs from its logistics, distribution and ecommerce customers in the UK.
Gazeley is speculatively developing three new warehouses at the site, which is to be named G.Park Northampton, comprising 50,000 sq ft, 90,000 sq ft and 155,000 sq ft of space. The site, which was formerly occupied by Robert Horne Paper Company, was acquired from Ropemaker and can accommodate a total of 430,000 sq ft. Demolition and construction is expected to commence at the start of June and is scheduled for completion by the end of 2018. Equation Properties was the adviser on the acquisition and will be retained as the Development Manager.
Each building will be developed to BREEAM Very Good certification and feature a range of state-of-the-art sustainability features such as LED lighting, solar thermal heating, rainwater harvesting, power charging stations for electric vehicles together with a variety of wellness initiatives designed to improve the working environment for employees.
The development is situated in a prime location for logistics, located near excellent transport links including the M1 motorway and the A14 which provides potential occupiers with unparalleled access to the rest of the UK.
Gazeley, which was acquired by GLP in December 2017, is the global company’s Europe platform. As the unprecedented growth of e-commerce continues to drive warehouse demand, GLP is well-positioned to support these growth trends by offering both space and technology-led solutions to drive value for its customers.
Alex Verbeek, Managing Director, UK, Gazeley, said: “The site’s prime, strategic position and excellent transport links will provide our fast-expanding customer base with unparalleled access to the UK’s largest markets. We are very much looking forward to working with our partners, Equation Properties, to begin this exciting development.”
“This acquisition and intention to develop speculatively further underlines and strengthens our position in the UK as we continue to expand our land-bank and development platform responding to the compelling demand for logistics and distribution space.”
Nick Redwood, Development Consultant to Equation Properties, commented: “Northampton remains a prime target market for both businesses with significant recent take up of available logistics space and strong rental growth. This is an opportunity we have been tracking for some time and we very much look forward to working with Gazeley in delivering this project.”
Equation Properties Ltd. was formed in 2015 by Simon Holley, formerly founder and senior partner of niche agency Holley Blake and latterly head of Business Space at CBRE. The company is currently involved in new industrial and logistics property development totalling around 4m sq. ft. in prime Midlands and South East locations in England.
Burbage Realty advised Ropemaker on the transaction.