Logicor forward funds Derby warehouse
02 February 2024
European logistics real estate investor Logicor, has agreed to forward fund a 500,000 ft2 warehouse in Derby.
By Liza Helps Property Editor Logistics Matters
THE PROPERTY on the 100-acre Infinity Park Derby scheme will be developed by Wilson Bowden and Peveril Securities.
Infinity Park Derby is a unique collaboration between Derby City Council, the Harpur Crewe Estate, Rolls-Royce, and Infinity Park Derby LLP which includes Wilson Bowden Developments and Peveril Securities.
Logicor Managing Director UK Charlie Howard said: “Infinity Park Derby fits perfectly with our strategy of further growing our footprint in areas where we know demand for quality real estate continues to outstrip supply.
“We are looking forward to bringing to the market a highly sustainable, well-designed asset that is in a prime location for the UK.”
A decision notice to grant planning permission for the building known currently as D2 was issued in December 2023. The design and access documents submitted with the planning application in April 2023 envision a 507,433 ft 2 building, comprising 488,125 ft2 ft2 of warehouse space and 16,540 ft2 of three storey office space and a 2,788 ft2 hub office. The property will have 19.5m eaves, with 48 loading docks and a 52m deep service yard area to the west of the site which includes 70 HGV parking spaces. There are 404 car parking spaces planned with 42 EV points.
Logicor intends to speculatively develop the facility to achieve BREEAM Excellent and an EPC A rating. In addition to solar panels, LED lighting and air source heat pumps, there are plans for extensive landscaping with 112 trees, wetland habitats, bird boxes and bug hotels to improve the levels of local biodiversity at the site.
Employees on the site will have access to nature trails, cycleways, and footpaths to promote sustainable travel. Construction is due to start early 2024. Throughout the construction phase, and when the building is complete, there is the potential to create over 1300 jobs.
The scheme is located in the logistics hotspot of the East Midlands, the site benefits from direct access to the national motorway network (A50, M1, and M6) and its proximity to East Midlands Airport.
Currently figures for the forward funding have not been released. Logicor was advised by Cushman & Wakefield, and the developers were advised by Avison Young.