Verdion is to speculatively develop another 565,000 sq ft of logistics space, following the successful year of letting activity at its £500 million iPort development in Doncaster, South Yorkshire.
Due to significant demand in the market and a shortage of Grade A warehouse space, Verdion, with its funding partner the Healthcare of Ontario Pension Plan (HOOPP), has pushed the button on the development of up to 565,000 sq ft of warehouse space. The first new unit, part of Phase One of the 6 million sq ft intermodal scheme, will comprise 190,000 sq ft and will be available from Q3 2017.
Michael Hughes, CEO of Verdion, said: “It’s been a great year for iPort. We have let over 1.65 million sq ft to some of the world’s largest companies, with a further deal announcement involving a household name coming very soon.
“This new tranche of speculative development demonstrates our strong confidence in the UK market and the very real location and commercial strengths offered at iPort.”
The company has let 215,800 sq ft to CEVA Logistics and 1.3 million sq ft to internet retailer Amazon.
iPort is a Strategic Rail Freight Interchange (SRFI) which will deliver over 6 million sq ft of Grade A logistics warehousing, linked with a high specification rail freight intermodal container facility providing rail freight services with continental gauge clearance to all major UK ports and the Channel Tunnel. The scheme also offers design and build warehouse/logistics units from 50,000 to 1.1 million sq ft.
Verdion is developing the scheme on a 337-acre site in Rossington, Doncaster. The site is linked with Junction 3 of the M18 via the Great Yorkshire Way.
Gent Visick, CBRE and Cushman & Wakefield are letting agents for iPort.