Logistics
South Staffs will receive 1 billion pounds of logistics park
Seetao 2021-07-09 16:56
  • The developer announced plans to invest 1 billion pounds in a large logistics park near Birmingham
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Oxford Properties and Logistics Capital Partners (LCP) formed a joint venture to acquire 734 acres of land northwest of Birmingham. They will develop the land into a new logistics hub with associated railway freight stations called West Midlands Interchange. Oxford University and LCP will jointly invest approximately £1 billion to advance the project within a few years. Oxford will provide most of the funding; LCP will serve as the development manager.

The supplier has obtained planning permission, which allows the delivery of approximately 8 million square feet of logistics space and provides flexibility in terms of project schedule and unit size. Infrastructure works are expected to begin in the first half of 2022, and the first batch of buildings will start on site later next year and are ready to be put into use in 2023. The site can accommodate new warehouses ranging from 200,000 square feet to more than 1 million square feet, with building heights up to 30 meters.

The West Midlands overpass is located on the M6 motorway, but as part of a broader infrastructure improvement, Oxford and LCP will build a new road linking the A5 and A449. In addition, the project will create a new strategic railway freight interchange to provide tenants with multimodal transportation channels. John Pagdin, head of UK Logistics Capital Partners, said: "The West Midlands Interchange is an excellent opportunity to build a uniquely positioned development plan that allows us to provide tenants with units of all possible sizes, scales, configurations and specifications. Rather than the usual planning delays or uncertainties usually associated with plans of this nature."

Oxford Properties is a Canadian company. Last year, it announced plans to invest £3 billion in the European logistics industry over the next five years. Its first step was to acquire a 15-acre plot of land at Heathrow Airport together with LCP. James Boadle, Head of European Logistics and Housing at Oxford Properties, said: "In recent years, we have significantly increased our exposure in global logistics through several major transactions, including our first direct investment in European logistics through LCP last year. Logistics is still It is one of our firmest beliefs on a global scale, benefiting from the severe shortage of high-quality new spaces, while the growth of e-commerce and the demand for fast supply chains continue unabated, and are affected by Covid-19."Editor/Baohongying

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