ICG invests in Europe’s largest-ever single-occupier, prime logistics park
Intermediate Capital Group (ICG) plans to fund a new, 2.94 million-square-foot global parts logistics center in the United Kingdom. The project will be located at Mercia Park, at Junction 11, M42, in northwest Leicestershire, constructed by IM Properties and leased to Jaguar Land Rover.
The transaction represents Europe’s largest-ever single-occupier build-to-suit transaction with ICG partnering with developer IM Properties to deliver the scheme on 20-year leases for each of the five units.
The new campus will service 80 countries and be in the heart of the United Kingdom’s Golden Triangle and Jaguar Land Rover’s aftermarket business, enabling it to evolve and grow the company, maintaining its competitiveness in a challenging global marketplace.
Chris Nichols, head of sale and leaseback at ICG, said, “This is a landmark deal by ICG, and the biggest single-occupier logistics build-to-suit ever undertaken in the Europe. Successfully completing this trans