Barwood and Premcor reach practical completion for major new Nottingham logistics scheme
Construction of a significant new logistics facility in Nottingham has reached practical completion, delivering 362,289 sq ft of warehouse and distribution space.
The development has been funded by Barwood Capital’s Regional Property Growth Fund IV and delivered in partnership with Premcor Estates.
Situated just five minutes from Junction 26 of the M1 motorway, Nottingham 360 is a high-bay logistics / production facility with a warehouse on the ground floor of 329,415 sq ft and additional office space of 32,874 sq ft, which includes a hub office to the service yard.
“Nottingham 360 is ideally located in the heart of the UK road network with good accessibility to the M1 motorway and strong employment demographics. With a key focus on ESG, the development has achieved BREEAM Excellent, Net Zero in construction and is Net Zero in operation enabled,’’ said Adam Smith, Asset Management Director at Barwood Capital
Simon Hawkins, Director at Premcor Estates, added: “Nottingham 360 offers a best-in-class logistics and production facility with leading ESG credentials. We look forward to working with Barwood and the joint agents in letting the building. We are encouraged by the positive level of demand we are seeing in the market.’’
Barwood’s Growth Fund IV is fully invested and its Growth Fund V is open for investment until the end of January 2024, having already secured investor commitments of over £48m.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 and Edward Kennerley of Knight Frank and Steve Moriarty of Moriarty & Co.