Construction starts for Barwood and Premcor’s major Nottingham logistics scheme
Construction of a major new logistics facility in Nottingham is underway with planning permission secured to deliver a 361,000 sq ft warehousing and distribution unit.
The 16-acre site was acquired by Barwood Capital’s Regional Property Growth Fund IV (the Fund) in August 2021 and will be delivered in partnership with Premcor Estates.
Situated just 5 minutes from Junction 26 of the M1 motorway, Nottingham 360 will be a high-bay logistics / production facility with a warehouse on the ground floor of 328,759 sq ft and additional office space of 32,874 sq ft which includes a hub office to the service yard.
‘With a key focus on ESG credentials that will deliver BREEAM Excellent and Net Zero in construction, Nottingham 360 is ideally located in the heart of the UK road network. We look forward to delivering the scheme at a time where occupational demand remains robust for sustainable and well-located buildings’’ said Adam Smith, Asset Management Director at Barwood Capital
‘Nottingham 360 will be a best-in-class logistics scheme and we are excited to be bringing this forward in such a supply constrained market. We also look forward to working with Barwood and the whole team to deliver the project.’ said Robert Lane, Director, Premcor Estates.
The scheme is being delivered by Winvic as main contractor with construction commenced and due to complete in December 2023. Occupiers nearby include DHL, DPD, Bestway Wholesale and ASDA.
Barwood’s Growth Fund IV is fully invested and its Growth Fund V is open for investment, having already secured investor commitments of over £42m. The strategy for the Growth Fund series remains to invest in underperforming, undermanaged or obsolete real estate throughout the UK regional markets, which have the potential to deliver strong and sustainable growth through planning, development and proactive asset management.
Retained agents for the scheme are James Clements of Knight Frank and Steve Moriarty of Moriarty & Co.