Delancey has formed a joint venture with development and asset manager Coltham on a new mid-box logistics development platform, which is set to deliver more than 500,000 sq ft of space in the next 18 months.
The jv, called Greenlight, has already acquired five sites from a variety of vendors in Kings Heath, Redditch, Colnbrook, Milton Keynes, and Reading. It aims to grow its pipeline further in the near term.
Greenlight will develop mid-box logistics schemes near major conurbations and transport arteries across the UK.
Its developments will target EPC A+ as well as BREEAM Outstanding ratings.
New developments will deliver net-zero carbon in operation for the base build and seek occupier engagement to collaborate on maximising energy efficiency and minimising consumption.
Delancey director of investments Dan Dawe said: “Whilst investment values have fallen significantly from their peak, occupational demand for well-located mid-box logistics space remains high and continues to grow with occupiers increasingly demanding first-class, sustainable space.
“There is a significant supply shortage and Greenlight will tap into this imbalance.”
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