Long-awaited construction of Reading International Logistics Park is imminent following the sale of the site.
Brookfield-owned Thames Valley Advanced Research Cluster (ARC), advised by Haslams Surveyors, has sold the site, which is close to J11 of the M4, to Graftongate and JP Morgan Asset Management.
The 8.5-acre site has detailed planning consent for a 161,000 sq ft last-mile urban logistics development of four units, ranging from 25,262 sq ft to 67,704 sq ft. Other occupiers in the immediate area include a Tesco distribution centre, DPD, DHL, Yodel, Argos and 3663.
Neil Seager, managing partner for Haslams Surveyors, said: “This sale highlights the continued attraction of the Thames Valley urban logistics market to investors looking to take advantage of the region’s excellent transport links and unsatisfied occupier demand.
“This scheme will provide much needed quality supply in a premium location.”
Graftongate and JP Morgan were represented by DTRE.
The sale allows ARC to continue focusing its portfolio on the growing life sciences and technology sectors.
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