JLL advise BentallGreenOak on development of two logistics assets in Peterborough
JLL has advised BentallGreenOak on the purchase of two plots of land in Peterborough and will be retained on as letting agents
JLL has advised BentallGreenOak on the purchase of two land plots, totaling 32.6 acres, and the forward funding of two high-quality prime logistics assets in Peterborough, for which the leasing team has also been appointed.
The deal forms part of the wider Peterborough Gateway logistics park that has direct access to the A1M motorway and where occupiers include Lidl, DPD, DSV, Urban Outfitters and Yearsley. The development will comprise two buildings, a 385,000 sq ft cross-docked unit with an eaves height of 15m and a 226,000 sq ft. unit with an eaves height of 12.5m. Construction of both buildings will begin in September 2019 with completion scheduled for Q2 2020.
Toby Phelps, managing partner of BentallGreenOak commented; “Our investment at Peterborough Gateway builds on our extensive track-record in the logistics market throughout Europe. At Peterborough, we are able to bring forward the remaining two plots on a very established logistics park, benefitting from a strategic location within 100 miles of London and the UK’s busiest container port at Felixstowe. The success of this logistics park has been driven by the quality of the location and access to an excellent labour supply and we look forward to delivering these two units to the market in Q2 2020.”
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.