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Sign in Sign up for a FREE subscriptionAEW acquires Wakefield site from Caddick Developments for U.K. logistics development venture
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
