27 July 2021
A leading global real estate investor and an asset manager of logistics real estate across Europe have joined forces to acquire and develop the UK’s largest logistics site.
The West Midlands Interchange will be developed into a major new logistics hub with associated rail freight terminal by Oxford Properties Group and Logistics Capital Partners (LCP).
They will jointly invest around £1 billion to bring forward the project over the next few years.
Planning consent has already been secured with the first buildings starting on site in 2022 ready for occupation in 2023. The Interchange will accommodate new warehouses ranging in size from 200,000 to over one million square feet, with building heights up to 30 metres.
This scale and flexibility will, the joint venture partners said, create space for some of the most efficient operations in the country, maximising cubic storage capacity and the possibility for occupiers to deploy the latest technology.
The site has excellent transport connectivity to the UK’s major cities, ports and airports, with immediate access to the M6 motorway allowing 88% of the population to be reached within a four-hour drive, well inside the single trip limit for heavy goods vehicles (HGVs).
As part of wider infrastructure improvements, Oxford and LCP will build a new link road to connect the A5 and A449.
John Pagdin, Head of UK Logistics Capital Partners, said: “West Midlands Interchange is a fantastic opportunity to build out a uniquely positioned development scheme, allowing us to offer occupiers every possible size, scale, configuration and specification of unit with none of the usual planning delays or uncertainties often associated with schemes of this nature.”