A duo of East Midlands sites are being proposed for logistics developments as CapitaLand Ascendas REIT Management sets its sites on an acquisition.
CapitaLand Ascendas REIT Management, as the manager of CapitaLand Ascendas REIT (CLAR), has announced the proposed acquisitions of two plots of freehold land. Four new
logistics properties will be developed at Manton Wood and Towcester, with one at Manton Wood and three at Towcester.
The two plots of land will be acquired from DHL Real Estate (UK), with the deals expected to be completed in Q3 2025. The estimated total investment cost is approximately £203.5m.
The development of the four properties is expected to commence in H1 2026.
At Manton Wood, a single-storey logistics property with a gross floor area of approximately 42,900 sq m will be developed. In Towcester, three single-storey logistics properties ranging from approximately 20,700 sq m to 38,300 sq m will be developed.
The properties target to achieve BREEAM “Excellent” certifications and some green
features include roof lights for natural daylight, roof-mounted solar photovoltaic systems
and electric vehicle charging points.
William Tay, executive director and CEO of CapitaLand Ascendas REIT Management, said: “Embarking on our inaugural logistics developments in the UK marks a significant step forward in our strategy to scale up CLAR’s UK logistics portfolio.
“With positive structural drivers such as e-commerce and onshoring anticipated to sustain demand, these four new properties are set to boost the asset value of CLAR’s UK logistics portfolio by 43.5% to approximately S$1.2 billion.
“Adding these best-in-class and green-certified logistics properties enhances CLAR’s logistics portfolio in the East Midlands, a key market in the UK’s logistics heartlands, and capitalise on occupiers’ demand for high-quality and well-located space.”
