Two big boxes snapped up at Mercia Park

Mercia Park

ICG Real Estate – the real estate division of Intermediate Capital Group (ICG) – has obtained vacant possession of two units at Mercia Park in Appleby Magna.

The huge industrial development on the Leicestershire-Derbyshire border consists of five warehouse units totalling 2,900,000 sq ft.

ICG has taken Units 1 (215,000 sq ft) and 5 (315,000 sq ft) at the park as part of a wider initiative to capitalise on the “exceptional” performance of the Midlands market.

The units are due to reach practical completion in July.

Rachael Pittaway, associate director at ICG, said: “We have firm conviction of the supply shortage for new build logistics space, especially of this quality and with strong ESG credentials. As we near practical completion, we are impressed with Mercia Park and what the teams at Winvic and IM Properties have delivered.

“Mercia Park is one of the UK’s largest Net Zero Construction Developments and the units are best in class, BREEAM Excellent and net zero carbon ready should a tenant wish to install PV and connect to green energy.

“We have already received strong interest in the units, and we look forward to continuing to create value for our investors by generating diverse and defensive income streams.”

Tom Fairlie, partner at DTRE – ICG’s leasing advisor at Mercia Park – added: “Obtaining vacant possession of these two Grade A assets couldn’t come at a better time for the Midlands market. There are currently only two available new builds over 100,000 sq ft in the whole of the Midlands region and we are therefore in dire need of some new supply. Units 1&5 will represent best in class product, which we are sure will be very well received by the occupier market.”

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