Barings forward funds core logistics asset in northwest England
Barings, on behalf of its Pan-European logistics joint venture (PELV), has completed a deal to forward-fund a class A logistics asset in Omega Business Park, in northwest England, United Kingdom.
The site has planning permission for a 308,905-square-foot prime warehouse that will be built to a high specification, including an EPC A certification, electric-vehicle charging and photovoltaic roof panels, and will target leading ESG credentials, including BREEAM Excellent.
Omega Business Park is in a prime logistics location between Manchester and Liverpool in Warrington, Cheshire, offering direct access to both the M62 and M8 motorways. The logistics market in northwest England is one of the best performing in the United Kingdom and is experiencing strong rental growth due to lack of supply. Omega Business Park is the region's largest mixed-use development site, extending to 575 acres, with industrial occupiers including Brakes, Asda, The Hut Group, Royal Mail, Amazon,