A fund managed by JP Morgan Asset Management has partnered with property developer Graftongate to build out a £500m logistics portfolio.
The partnership has kicked off with the acquisition of an 8.5-acre development site known as Reading International Logistics Park, which sits next to junction 11 of the M4 motorway in Berkshire.
The site has detailed planning consent for the £75m development of a 160,000 sq ft last-mile urban logistics scheme, comprising four new prime warehouses ranging from 24,150-65,787 sq ft. It is being delivered by developer Arlington.
Alex Thomason, director at Graftongate, said: “The site provides an opportunity to develop a last mile logistics scheme in a densely populated urban area in the Thames Valley.
“We intend to target core markets for speculative development, with a focus on key conurbations and strategic locations where there is an acute lack of supply.”
Graftongate and JP Morgan were represented by DTRE, with Haslams acting for the vendor.
Image from Graftongate
Send feedback to Evelina Grecenko
Follow Estates Gazette
