Goodman buys at record level in Park Royal

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.

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