AXA IM - Real Assets to build c. 1 million sq ft of logistics in U.K.’s ‘golden triangle’ following acquisition of development site
- 24 November 2020
AXA Investment Managers - Real Assets ("AXA IM - Real Assets"), a global leader in real asset investments and the leading1 real estate portfolio and asset manager in Europe announces that it has agreed to acquire, on behalf of clients, a prime logistics development site in the U.K.’s logistics ‘Golden Triangle’, from a private landowner.
The 64-acre site has planning consent for up to c. 1 million sq ft of Grade A logistics space. The site will be developed by Baytree Logistics Properties, the pan-European logistics and industrial development platform launched by AXA IM - Real Assets in 2015, on a part build-to-suit and part speculative basis. The new project will be designed to deliver modern and flexible industrial and logistics space and will be built to high environmental standards.
Strategically located in Nuneaton, in the Midlands, the site benefits from excellent power and transport infrastructure links, as well as a good supply of local labour. Within 20 minutes, occupiers can access five national motorways; the M6, M69, M1, M42, and M45, reaching 86% of the UK population within 4.5 hours. The Midlands ‘golden triangle’ logistics market accounted for 63% of national take up in 20192 and has continued to prove resilient against a Covid-19 backdrop.
This transaction furthers AXA IM - Real Assets’ exposure to one of the UK’s leading logistics markets, and adds to its c. €1.6bn European logistics portfolio3 .
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