Oxford, LCP break ground on $1.2b UK logistics development
Oxford Properties Group and Logistics Capital Partners (LCP) have begun construction work on one of the United Kingdom’s largest logistics development sites, West Midlands Interchange (WMI).
Oxford and LCP acquired the site in a joint venture in 2021 and will invest more than £1 billion (€1.16 billion/$1.2 billion) to develop the park, which will also provide intermodal access through a new Strategic Rail Freight Interchange.
The first phase of development has begun at the 734-acre site near Birmingham, including earthworks, highways construction, water installation and the creation of two new country parks. The first plots will be available for vertical builds in the first half of 2024 with the site able to accommodate new warehouses ranging in size from 200,000 square feet to more than 1 million square feet and building heights of up to 30 meters (98 feet).
The site is centrally located in the United Kingdom, northwest of Birmingham in the key West Midla