Ergo Real Estate continues its logistical success with the acquisition of three further industrial projects for its Aver Property Fund, to deliver another One Million sq ft of logistics space over the next 18 months.
Ergo Real Estate, on behalf of Aver Property (its JV with NFU Mutual), continues its impressive track record in the logistics sector, announcing a further three acquisitions of prime industrial space to develop into high specification units at Novus Point – Newcastle Under Lyme (331,800 sq ft), Unity – Doncaster (566,000 sq ft) and Prime Point – Stafford (143,370 sq ft), totalling over one million square feet, which are due to complete later in 2022 and early 2023. Details as follows:
Novus Point, Lymedale Business Park, Newcastle under Lyme, ST5 7LB
Novus Point, is part of the successful Lymedale Business Park located within the popular M6 logistics corrider. The project team includes investment and development company Cole Waterhouse (working in partnership with Peveril securities) to create a 331,800 sq ft unit comprising a warehouse, offices, transport hub offices and a gatehouse. The completed scheme will be built to BREEAM ‘Very Good’ with an EPC A rating , with Practical Completion scheduled for Q4 2022. Burbage Realty represented Aver Property.
Units A&B, Unity, Doncaster
Units A&B are part of a new logistics, manufacturing and industrial development situated in a prime strategic location in Doncaster directly off Junction 5 of the M18/M180 interchange. Aver Property is funding Waystone and Hargreaves Land developers to build Unit A , the larger of the units at 375,000 sq ft, and Unit B, 191,000 sq ft, with both having ample office provision. Each unit will benefit from an institutionally acceptable specification to achieve a BREEAM rating of no less than ‘Very Good’ and an EPC A rating . Unit A will start on site in Q2 2022 and Unit B in Q3 2022, completing Q1 2023 and Q2 2023 respectively. JLL represented Aver Property.
Prime Point 14, Shackleton Way, Stafford ST16
Aver is funding developers Seddon for Prime Point 14 at Stafford which lies one mile from Junction 14 on the M6 motorway. The Stoke and Stafford market is home to a range of established businesses which have built strong bases in the area, benefitting from a workforce of 151,000 people in the locale which is set to increase due to a number of planned new build residential developments. The development comprises two units of 66,488 sq ft and 76,885 sq ft respectively that will be built to BREEAM ‘Very Good’ with an EPC A rating. Construction is due to commence March 2022 and complete November 2022. Savills acted for Aver Property.
These deals follow the completion and delivery of 500,000 sq ft in 2021 of industrial/logistics at Bicester and Markham Vale, as well as the 1,134,218 sq ft of prime industrial space located at sites in Middlewich, Sheffield, Fradley and Oldham which are all due to complete in the second half of 2022.
Martin Jepson, Founding Partner at Ergo Real Estate commented:
“Ergo is already on target to complete 1.6m sq ft of prime industrial space, and adding a further 1m sq ft to our pipeline within our fourth year of operation, is testament to our expertise and understanding of this dynamic sector. Our flexible and opportunistic approach enables us to be responsive to prospects and capitalise on the growth in this area, securing our position as market leaders.”