Verdion to spec 700,000 ft2 in Doncaster
Developer Verdion is set to speculatively develop 680,000 ft2 of new warehouse space at its 6 million ft2 iPort multimodal logistics hub in Doncaster, South Yorkshire.
In partnership with investor Healthcare of Ontario Pension Plan, the pan-European logistics real estate specialist will deliver four buildings ranging from 116,000 ft2 to 260,000 ft2 by Q3 2022.
All will benefit from best-in-class specification, and highly energy efficient design. The first building – a total of 173,500 sq m – is expected to complete before Christmas this year.
The decision comes after Verdion’s previous speculative phase was completed in March this year, with the final two units going to Woodland Group and luxury homeware retailer Dusk.
iPort’s remaining 1.7 million ft2 includes capacity for buildings of up to 800,000 ft2 sitting alongside its phased speculative space.
John Clements, Executive Director of Verdion, said: “This is an extraordinary market, with no high-quality new space above 100,000 ft2 currently available in South or West Yorkshire and occupier demand remaining strong.
“This development programme steps up the pace and will deliver a range of new warehousing throughout the park designed to meet requirements across a number of size bands. Although many businesses will be driven by ecommerce sector growth and employment opportunities, we’re also expecting others drawn by the significant power available and opportunity to move into rail freight.
“Speed is going to be important, but these sites are already prepared for development with services installed and materials pre-ordered so we’re in a position to move quickly.”
Joint letting agents are Gent Visick, Colliers and CBRE.