Goodman Group has acquired a 9.5-acre site in Park Royal, in partnership with the Canada Pension Plan Investment Board and APG for around £70 million.
The team say it is the biggest ever UK industrial land acquisition in terms of price per acre. The joint venture, Goodman UK Partnership, plans to build a multi-storey scheme on the site.
Goodman say Park Royal is experiencing strong demand from customers, driven by urbanisation and ecommerce.
Goodman owns a number of vertical warehouses in Asia, including the biggest in Hong Kong – the ATL Logistics Centre, at around 6.5m sq ft, and recently announced a new multi-storey facility near Barcelona.
Currently SEGRO’s Heathrow facility, X2, is the only multi-storey industrial unit in the UK.