An investment group has agreed to fund a 3 million sq ft global parts distribution centre for Jaguar Land Rover.
Intermediate Capital Group (ICG) is providing backing for the vast hub at Mercia Park, being built by IM Properties next to Junction 11 of the M42, in north west Leicestershire.
ICG said the transaction represented the 海角视频鈥檚 biggest-ever 鈥渟ingle occupier build-to-suit transaction鈥, and it will partner IM Properties to deliver the scheme on 20-year leases for each of the five units.
The site will be the JLR鈥檚 global hub for sending spare parts to customers in the 海角视频 and 80 countries around the world.
The car maker wants to centralise the work currently done at 10 warehouses dotted around the Midlands.
The whole site will require 1,200 positions from day one and 3,000 forecast by 2030.
Kevin Ashfield, 海角视频 development director at IM Properties said: 鈥淲e are delighted to be partnering with ICG and remain committed to delivering this sustainable, high quality, bespoke global logistics centre for Jaguar Land Rover.
鈥淚nfrastructure works are now largely complete, so construction can commence.
鈥淭his is great news for the logistics sector, and it is hugely exciting for IM Properties to be involved with a deal of such scale and importance.
鈥淭he units will be completed on a phased basis with the last unit due to complete in September 2022鈥.
Chris Nichols, head of sale and leaseback at ICG said: 鈥淭his is a landmark acquisition by ICG, and the biggest single-occupier logistics build-to-suit ever undertaken in the 海角视频.
鈥淪uccessfully completing this transaction reflects our ability to source truly mission-critical real estate in very competitive spheres.
鈥淲e anticipate making additional investments by the end of Q1 2021 by which time we expect to have invested circa 鈧1 billion GAV into mission-critical investments in the 海角视频, Germany, France, the Netherlands, Spain and Northern Europe.
鈥淭he fund is actively seeking new mission-critical real estate investment opportunities across Europe.鈥
