A new co-investment joint venture has been formed for the acquisition of a 734-acre site near Birmingham to make way for the development of a major logistics hub. The £1bn commitment has the potential to create thousands of jobs.
Global real estate investor Oxford Properties Group and developer and asset manager of logistics real estate Logistics Capital Partners will jointly invest £1bn to bring forward the West Midlands Interchange project over a number of years, with Oxford providing the majority of the capital and working alongside LCP’s team as development manager.
Planning consent has already been secured by the vendors, which allows for the provision of approximately eight million sq ft of prime logistics space and provides flexibility around the project
link source - Insider Media - Property