AEW, one of the world’s largest real estate asset managers, and Allianz, have been revealed as the investors behind a project situated at East Midlands Distribution Centre (EMDC).
The site was acquired with planning permission from CWC Group and the project will provide a cross-docked facility offering 525,000 sq. ft of Grade A warehousing, with high quality office accommodation.
The new 525,000 sq. ft development is located on a 25 acre site next to the 1,000,000 sq. ft M&S national distribution centre.
Due for practical completion in December 2019, the building, which is under construction, will be completed to EPC ‘A’ and offer a BREEAM ‘Very Good’ rating. Upon completion, the building is likely to create up to 1,000 jobs, in addition to the thousands of people already working on EMDC.
Nick Winsley, Managing Director at AEW UK Investment Management, said: “We are delighted to be investing in the first development in our new UK logistics venture and expect to be making furtherannouncements in the coming weeks.”
Charlie Royle, Director at AEW UK Investment Management, said: “When complete this facility will be one of the largest speculative buildings of its type anywhere in the UK and will provide occupiers choice in this supply starved market. We are currently seeing a national shortage of prime, well located, energy efficient warehousing – and have already had interest from a number of tenant prospects.”