AEW and Allianz Real Estate, acting on behalf of several Allianz group companies, have completed the acquisition of Wakefield 515 in West Yorkshire, England, a 515,000-square-foot logistics facility in Yorkshire’s premier distribution hub, from Caddick Developments.
Wakefield 515 forms part of AEW’s develop-to-core U.K. logistics venture with Allianz, and follows the announcement earlier this year of the practical completion of Fradley 430, a 430,000-square-foot logistics facility in the East Midlands. The AEW and Allianz venture now has approximately 1 million square feet of completed developments since inception in 2019.
Situated at the junction of the A1(M) and J33 of the M62, Wakefield 515 covers 28 acres and will provide a 515,000-square-foot prime class A logistics unit with a BREEAM rating of Very Good and parking for 395 cars. Work is expected to start onsite in July, with completion targeted for third quarter 2021.
Nick Winsley, managing director an
