As reported by CoStar in April 2017, this development has now reached PC:
Aberdeen Asset Management has agreed a £12m funding deal with Tungsten Properties for a speculative logistics development in the industry’s ‘Golden Triangle’ in Lutterworth, CoStar News can reveal.
The 130,000 sq ft logistics facility, which will be developed by Tungsten, is located close to the M1 and in turn the national motorway network, and is also well connected to the West via the A4303 to the A5 and Magna Park.
Oli Lord, fund manager at Aberdeen Asset Management, said: “We are delighted to have secured such a prominent and well located opportunity. We look forward to working with Tungsten to deliver a high quality product and take advantage of current favourable supply / demand dynamics."
The speculative industrial development is being marketed by the joint letting agents, MWRE and Burbage Realty, at £6.75 per sq ft.
Jeff Penman, Tungsten Properties, said: “We are delighted to be working with Aberdeen Asset Management to deliver this prime logistics facility. The 128,600 sq ft unit will be built to a ‘best in class’ specification, and will provide immediate access to J20 of the M1, close to Magna Park, Lutterworth, in the heart of the Golden Triangle.”
Cooper Rose Real Estate represented Aberdeen Asset Management; whilst Franck-Steier Price acted on behalf of Tungsten Properties.
Contact Ben Rose