Developer investor Goodman has bought a 40-acre site in the East Midlands with joint venture partner Wilson Bowden.
The site near Lubbersthorpe adjacent to the M1 and M69 motorway intersection in Leicestershire will be known as Leicester Commercial Park and could accommodate up to 440,000 sq ft of Grade A industrial and distribution space.
The development has been acquired by the Goodman UK Logistics Partnership (GUKP), an investment vehicle set up in 2015 for all logistics assets developed and sourced by Goodman. Since the launch, GUKP has completed close to 1,000,000 sq ft of warehouse distribution space with recognised customers including Allport Cargo Services (130,000 sq ft) and Clipper Logistics (304,000 sq ft) and has developed a secured development pipeline of £300m.
Goodman intends to submit an early planning application with a view to commencing development at the earliest opportunity.
Avison Young advised Goodman on the acquisition and Mather Jamie Chartered Surveyors advised the land owner.