Greenbox secures second warehouse scheme

By Liza Helps, Property Editor Logistics Matters

IT HAS bought a 24-acre development site in Darlington in the Northeast with planning for up to 402,150 ft2 of warehouse space from privately-owned Co Durham-based property development company Premcor.

The Greenbox Darlington scheme, on the ‘Fabric Darlington’ site is adjacent to an Amazon distribution centreon Tornado Way. The scheme will see the development of  three new Grade A industrial/warehouse units ranging in size from 84,000 to 213,000 ft2.

The site was acquired speculatively by Premcor two years ago, the developer has spent the intervening period developing and submitting a detailed planning application for industrial and warehouse usage.

The three consented units are scheduled to be delivered and ready for occupation from Q1 2025.

The project will target an EPC A and BREEAM Excellent rating and will also aim to achieve a Net Carbon Zero in Construction development, in line with Greenbox’s ESG commitments. 

Greenbox Darlington follows on from the platform’s debut acquisition, Greenbox Thirsk an 825,000 ft2 development in North Yorkshire of three new industrial / warehouse units delivering to the same sustainability standards. In September 2023 detailed consent for Unit 1 totalling 365,500 sqft was secured with the remaining 2 units having outline consent.

Partners Group Member of Management, Private Real Estate Romain Ruiz said: “This acquisition is part of our broader strategy at Partners Group to strengthen our presence in the UK logistics sector and to offer robust and eco-friendly solutions to our clients."

Citivale Development Director Alex Reynolds, added: “This Darlington site is perfectly placed for the Greenbox portfolio. In a highly visible and strategic location for UK wide distribution and last mile, to be able to add an ‘oven-ready’ site to our portfolio sets us up to quickly move forward to provide top-class, sustainable space in a stock deprived market. We already have occupier interest for Greenbox Darlington and with detailed planning permission in place, this will be Greenbox’s first net carbon in construction development to complete, ready for occupation at the end of Q1 2025."

Savills advised vendors, Premcor Estates Ltd, on the sale of the Darlington site. WSB Property Consultants LLP and Cushman & Wakefield advised the JV. Savills and Cushman & Wakefield are appointed as letting agents for Greenbox Darlington.