M&G Real Estate to fund 480,800 sq ft of Logistics Development at Optimus Point

M&G Real Estate is to fund the construction of 480,800 sq ft of new warehouses at Optimus Point. The two buildings, distribution warehouses of some 276,100 sq ft and 204,700 sq ft respectively, will be built at Junction 21a of the M1 near Leicester.

Wilson Bowden Developments will deliver the two buidlings, with M&G Real Estate acquiring 24.3 acres of the site, subject to detailed planning permission, and will fund the development.

Andrew Windle, Associate Director, Logistics and Industrial at M&G Real Estate, comments:

"There is a limited supply of logistics accommodation in core locations such as the M1 corridor - this opportunity produces access to well specified and located product. As we enter 2015, M&G Real Estate continues to selectively increase its exposure to the sector, drawing on the experience within our specialist team to secure the right acquisitions that offer clear income potential and strong returns or create the required product."

Nick Richardson, Managing Director of Wilson Bowden Developments adds:

"This is a great start to the development and has enabled us to commit to the infrastructure which has now started on site. This activity has already generated a number of major enquiries since the New Year and we are confident of securing strong interest in the site."

NRS acted for M&G Real Estate and Burbage Realty represented Wilson Bowden Developments.

For further information about the site, please contact Sebastian Foster | T: 01530 276276 | E: sebastian.foster@wilsonbowden.co.uk