Logicor leases largest available UK warehouse to L&G Homes
25 Feb 2016
L&G Homes has signed a ten-year lease with Logicor for 550,000 sqft of warehouse space in Sherburn-in-Elmet, 15 miles east of Leeds.
Charlie Howard, Managing Director, Logicor UK said:
We are very pleased to lease this building to L&G Homes. The Big555 is the UK’s largest readily available logistics warehouse, located in Sherburn Distribution Park which provides strategic access to the whole of the North of England.
Paul Stanworth, Managing Director of Legal & General Capital, said:
Sustainable, durable modern materials and proven technology will enable us to create high-quality homes meeting a wide range of housing needs and help solve the UK’s housing crisis. Modern modular housing in the UK has so far been restricted to the top end of the market: the scale of our Sherburn facility will enable many more people to benefit from new, environmentally-friendly construction techniques which have already become mainstream in Europe.
CBRE, DTRE and Moriarty and Co jointly advised Logicor on the transaction.
Logicor’s UK warehouse portfolio totals 21,500,000 sqft (2 million sqm) across 68 buildings.
Logicor, Blackstone's European logistics platform, is one of the premier real estate companies in Europe focusing on the ownership and operation of modern logistics and distribution properties. Logicor currently owns in excess of 13 million square metres of space in properties across key markets in 18 countries.