AXA Investment Managers – Real Assets announces the acquisition of a prime logistics development site in Evin Malmaison, in the Nord Pas de Calais region in France, which has the potential for up to 77,500 sqm of Grade A logistics space in a single XXL building. The site has been purchased on behalf of the Logistics Development Club(1) and will be developed by Baytree Logistics Properties.
Located in France’s third largest logistics market(2), the 208,000 sqm site benefits from excellent transport infrastructure and a good supply of local labour. The site is less than five minutes’ drive from the A1/A21 junction, which links directly to Lille, 30 km to the north and Paris, 200k km to the south. The port of Calais is accessible in just over an hour.
The building permit and environmental code regulatory authorisations (“ICPE”) have been obtained and Baytree intends to pursue a build-to-suit strategy to deliver modern and flexible warehouse space that is suitable for a wide variety of different logistics uses.
(1) Logistics Development Club is managed by AXA REIM SGP, an affiliate of AXA IM – Real Assets
(2) Savills European Logistics: Warehousing future report
Source : Company