Pan-European logistics real estate specialist Verdion has announced a major £300 million speculative development programme that will deliver all remaining warehouse capacity at iPort, the 6 million sq ft multimodal logistics hub just outside Doncaster.
Totalling 1.75 million sq ft, this final stage of development at iPort will offer five buildings from 82,000 sq ft upwards, with delivery from June 2023.
The largest of the five buildings will extend to 848,250 sq ft and complete in June 2024 – one of the largest speculative logistics units ever developed in the UK offering a significant proposition for businesses looking for a new national hub.
All buildings will be built to very high standards of construction and certified to a minimum of BREEAM Very Good.
John Clements, Executive Director of Verdion, said: “This is a major investment that underlines our unwavering confidence in both iPort and the UK market. Demand for high quality, efficient space in strategic locations remains extremely strong and this programme addresses the current scarcity in Yorkshire market and further afield head on.
“Speed of delivery is important and we have a fantastic on-site construction team, planning permission is in place and contractors’ agreements are signed.”
The decision follows recent lettings at iPort as well as the completion of the final building in its previous speculative phase, iP10, which is located adjacent to the on-site rail terminal. Woodland Group, Euro Pool Systems and Maritime Transport have all signed leases for new space at iPort this year.
iPort is one of the UK’s most significant multimodal logistics hubs, and the largest in the north of England, with capacity for a total of 6 million sq ft of 24/7 of logistics and light industrial accommodation close to Junction 3 of the M18 and the East Coast Main Line. Occupiers include Amazon, CEVA, Fellowes, Lidl, Dusk, Kingsbury Press, Woodland Group, Maritime Group and Euro Pool Systems.
In addition to large areas of landscaping and wetland, iPort benefits from an award-winning multimodal on-site rail freight terminal, iPort Rail, which is increasingly being used by companies based on-site and across the region looking to cut carbon across their supply chains, with rail connections to major UK sea ports.
Gent Visick, Colliers and CBRE are the retained leasing agents for iPort.
Verdion’s longstanding partner in the development of iPort is the Healthcare of Ontario Pension Plan (HOOPP).