1,000 jobs a step closer as new logistics venture reveals hand
Work has begun on a huge distribution centre in the East Midlands that could create up to 1,000 jobs.
Real estate management firm AEW and Allianz have been revealed as their first speculative logistics facility as part of a recently launched UK logistics venture.
The 525,000 sq ft scheme at the East Midlands Distribution Centre (EMDC) and was acquired with planning permission from CWC Group.
The development is on a 25 acre site next to the 1 million sq ft M&S national
distribution centre.
Earlier this year AEW announced that Allianz had committed €290m towards a develop-to-core UK logistics venture, managed by AEW.
Nick Winsley, managing director at AEW UK Investment Management, commented: “We are delighted to be investing in the first development in our new UK logistics venture and expect to be making further announcements in the coming weeks.”
Charlie Royle, director at AEW UK Investment Management, remarked: “When complete this facility will be one of the largest speculative buildings of its type anywhere in the UK and will provide occupiers choice in this supply starved market. We are currently seeing a national shortage of prime, well located, energy efficient warehousing – and have already had interest from a number of tenant prospects.”
