Tritax Big Box has received outline planning approval for 2.3m sq ft of logistics space at Symmetry Park in Kettering.
The site covers 136 acres, located on the A14 “trans-European” freight route.
Tritax holds the land under option, and will seek to commit initial capital to the project, to make the site ready for prelets.
It is the second development for the £400m db symmetry strategic land portfolio acquired in February, in a deal revealed by EG last year.
Tritax estimates the developed site will deliver returns within its target range of 7-8%.
Colin Godfrey, partner at Tritax, said: “This new logistics park has the potential to provide an attractive yield on cost within our target range and, once fully developed, will bring significant employment opportunities and strengthen further the area’s economic growth.”
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