Three unit spec scheme for Northants
Industrial developer Newlands Developments and investor M&G Real Estate will start construction of a three-unit 820,000ft2 distribution warehouse scheme at the 40-acre Brackmills Industrial Estate in Northampton.
The development, known as Brackmills Gateway, will consist of units of circa 387,000ft2, 252,000ft2 and 180,000ft2. Each unit benefits from 18m eaves, 55m yards, a floor loading of 50kn/m2 and 12% roof lights. The Net Zero Carbon development is on track for completion in the third quarter of 2022 with a BREEAM rating of ‘Outstanding’ and an EPC A+ certification. It will have extensive electric vehicle charging provision, solar-ready warehouse roofs, rainwater harvesting and a solar thermal hot water system.
“As demand for prime logistics space continues to grow, we believe a restricted supply of available product could present attractive opportunities to achieve rental growth and generate sustainable, long-term returns for our investors,” said John Duxbury, Head of UK Portfolio Asset Management at M&G Real Estate.
“We are targeting large lot sizes and continue to explore speculative development opportunities to achieve our objectives, forming partnerships where necessary. The development will be one of the most sustainable of its kind in the UK and demonstrates M&G’s ability to deliver high quality ESG-led schemes which meet the exacting requirements of modern occupiers.”
“Construction is due to start in the coming weeks and we are already in discussions with a number of potential end users,” added John Barker, Development Director at Newlands Developments.
Joint letting agents on the scheme are Burbage Realty and Savills.