RLAM swoops for Northants site
Royal London Asset Management said the 54-acre plot at Brackmills Industrial Estate will be its largest logistics scheme, with development manager Graftongate on board to deliver 1.25m sq ft in a £340m project.
The freehold site includes an existing 312,831 sq ft distribution warehouse, which is now available for lease on short flexible terms. Coca-Cola & Schweppes Beverages put the whole site up for sale in May last year.
Located in the heart of the UK’s logistics network, Brackmills is an established logistics hubs, offering connectivity to the M1 and M6 motorways, the A14, and key regional centres.
The acquisition aligns with Royal London Asset Management Property’s strategy to grow its industrial development pipeline and sets a benchmark for securing prime sites capable of delivering best-in-class logistics assets for long-term holdings for its funds.
Currently, RLAM Property has £3.2bn in industrial assets across the UK.
RLAM Property’s Robert Kiernan said: “The acquisition of this landmark site in Northampton represents a pivotal moment for our industrial and logistics strategy.
“Opportunities of this scale and prominence in the UK’s logistics ‘Golden Triangle’ are exceptionally rare. With its outstanding connectivity for transport and labour, the established occupier base nearby and flexibility to deliver a variety of unit sizes, this project will become a key development in our logistics portfolio.
“We are excited to deliver a best-in-class scheme with Graftongate that meets the evolving needs of occupiers and reinforces our commitment to long-term, sustainable value creation for our investors.”
Jamie Hockaday, director at Graftongate, said: “Brackmills 54 provides an opportunity to bring forward more than 1.25 million sq ft of prime logistics space in one of the UK’s most established distribution locations.
“The site’s scale, connectivity and access to a strong labour pool make it an exceptional proposition for national and international occupiers. We look forward to continuing our relationship with Royal London Asset Management Property to deliver a sustainable, best-in-class scheme.”
RLAM Property was represented by Pinsent Masons and Apex.
