Hines, Clowes expands JV to develop 1.15msf logistics space

Hines has plans to expand its joint venture with Clowes, the U.K. property investor and developer, to develop a total of 1.15 million square feet of modern, leading-edge logistics space across the East Midlands in England.

The expanded joint venture will fund the development of state-of-the-art warehousing across eight units, each of which will be developed to a high specification and target BREAAM “very good” certification. EV-charging infrastructure will be installed across the portfolio, and the units are designed to support the installation of solar panels.

The new facilities will service the high levels of demand Hines is experiencing among occupiers seeking logistics space in supply constrained areas. This initiative increases the initial commitment to deliver 772,000 square feet of logistics space across four U.K. business parks, which was reached in September 2021.

About 195,000 square feet of space already has been delivered by the joint venture at