Tuesday, August 16, 2022

Major Jaguar Land Rover parts centre moves closer for Leicestershire as funding deal agreed

Intermediate Capital Group (ICG) has agreed to forward fund a new, 2.94 million sq ft global parts logistics centre at Mercia Park located at Junction 11, M42, North-West Leicestershire, constructed by IM Properties and leased to Jaguar Land Rover.

The transaction represents Europe’s largest ever single occupier build-to-suit transaction with ICG partnering with developer IM Properties to deliver the scheme on 20-year leases for each of the five units.

The new campus will service 80 countries and be in the heart of the UK’s Golden Triangle and Jaguar Land Rover’s aftermarket business, enabling it to evolve and grow the company, maintaining its competitiveness in a challenging global marketplace.

Chris Nichols, Head of Sale and Leaseback, said: “This is a landmark deal by ICG, and the biggest single-occupier logistics build-to-suit ever undertaken in the Europe. Successfully completing this transaction reflects our ability to source truly mission critical real estate in very competitive spheres.

“The Fund is actively seeking new mission critical real estate investment opportunities across Europe. We anticipate making additional investments by the end of Q1 2021 by which time we expect to have acquired circa €1 billion of mission critical investments in the UK, Germany, France, the Netherlands, Spain and Northern Europe.”

Kevin Ashfield, UK Development Director at IM Properties added: “We are delighted to be partnering with ICG and remain committed to delivering this sustainable, high quality, bespoke global logistics centre for Jaguar Land Rover. Infrastructure works are now largely complete, so construction can commence.

“This is great news for the logistics sector, and it is hugely exciting for IM Properties to be involved with a deal of such scale and importance. The units will be completed on a phased basis with the last unit due to complete in September 2022.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.

Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.