JINGDONG Property secures double letting at Coventry scheme
JINGDONG Property has secured two deals on its speculative four unit Apollo warehouse scheme in Coventry.
By Liza Helps, Property Editor, Logistics Matters
THE COMPANY, a subsidiary of Chinese ecommerce and logistics conglomerate JD.com, has secured lettings on two properties at its 52-acres Apollo scheme at Ansty Park in Coventry, West Midlands.
JINGDONG Logistics, (also known as JD Logistics) the logistics arm of JD.com is thought to have taken a 10 year lease at a rent of £10.75 per ft2 on Apollo 7 a 117,076 ft2 warehouse to support JINGDONG Logistics’ third-party logistics services, including a key contract with a leading Chinese electronics company.
JINGDONG Logistics UK director Duke Lu, said: “This lease reflects our strategic plans to expand our overseas warehouse capacity in 2025, and provide better services for our customers all over the world.”
Meanwhile Unit 5 totalling 301,591 ft2 is under offer to Chinese owned furniture manufacturer and retailer Daals on similar terms at a rent of circa £10.50 per ft2.
All units are built to the highest sustainability standards, featuring BREEAM ‘Excellent’ and EPC A ratings, roof-mounted PV systems, and EV charging points.
Apollo 7 consists 107,040 ft2 of warehouse space with 12.5m eaves, 10 dock and two level access doors with 10,036 ft2 of two storey cat A offices while Apollo 5 has 275,337 ft2 of warehouse space with 14m eaves, 27 dock and two level access doors served by a 53m yard as well as 26,254 ft2 of office space.
Both units are part of the second phase of development at Apollo, Ansty Park. There are remaining two units of 172,407 and 269,882 ft2 available for immediate occupation.
JINGDONG Property, purchased Apollo as part of the Project Venus portfolio it acquired from Goldman Sachs, in July 2023. The 1.1 million ft2 first and second phases of Ansty Park, which were part developed, were, according to property analyst CoStar’s models, thought to be worth around £180 million of the £248 million portfolio price.
Logistics Matters reported in June that in addition to Ansty Park, JINGDONG Property has acquired a prime warehouse development site known as Coton Park in Rugby from Newlands Developments. The site could accommodate a single 250,4000 ft2 Grade A+, BREEAM ‘Excellent’ certified facility once completed.
Joint agents for Apollo Park are JLL and Newmark.
