Invesco Real Estate, the USD 90bn global real estate investment business of Invesco Ltd. (NYSE: IVZ), has partnered with GARBE Industrial Real Estate GmbH (“GARBE”), in a joint venture to develop a circa 550,000 sq ft Class A logistics site in Worksop, located in the prime East Midlands logistics UK market.

The two-unit scheme, comprising of separate 462,500 sqft and 86,500 sqft facilities spread over 28.9 acres, will see construction commencing September 2024 and completion in Q3 of 2025. Both units target BREEAM Excellent and EPC A+ standards.[1]

Strategically located in the East Midlands, Worksop benefits from a catchment area of circa 3 million people within 45 minute drivetime, with the major cities of Manchester, Birmingham, Nottingham and Sheffield reachable within less than two hours drive. The site is located equidistant between the M1 and A1(M) providing easy access to the UK’s national motorway network.

GARBE, one of the leading specialists for logistics and industrial properties across Europe currently has c. EUR10,6 billion of assets under management, with around EUR2.8 billion in its development pipeline.

Chris Hornung, Country Head & Managing Director at GARBE UK, said “This is an excellent opportunity to capitalise on the dearth of supply of large logistics units of 450,000sq ft plus in the region. This development is in line with our strategy to speculatively develop in undersupplied markets with the added benefit of Worksop providing occupiers with a strong labour pool”.

Rob Johnston, Managing Director – Head of Investments, UK & Nordics at Invesco Real Estate, said: “We’re delighted to be partnering with GARBE to secure this rare opportunity to acquire a prime logistics site in the East Midlands and to further expand our UK and European logistics portfolio.”

GARBE and Invesco were advised by agents Atlas Real Estate.

Carter Jonas, DTRE and Moriarty & Co have been appointed as joint letting agents.

Building, Design & Construction Magazine | The Choice of Industry Professionals