Greenbox, a platform specialized in green grade A logistics space in the UK, has acquired a 24-acre development site in Darlington, its second for the Portfolio. Greenbox is backed by Partners Group, a leading global private markets firm, acting on behalf of its clients, and Citivale.
The Greenbox Darlington scheme is a development of three new Grade A industrial/warehouse units in the Tees Valley. The site benefits from detailed planning consent for up to 402,150 sq ft (37,361 sq m)of manufacturing and logistics space, and the three consented units are scheduled to be delivered and ready for occupation from Q1 2025.
In line with Greenbox’s ESG commitments, the project will target an EPC ‘A’ and BREEAM ‘Excellent’ rating and will also aim to achieve a Net Carbon Zero in Construction development.
Located in one of the North East’s longest-established industrial centres, Darlington has a strong reputation for engineering, offering fast links to seaports and airports. Local manufacturing occupiers include British Steel, Cummins Engines, Nobia (Magnet Kitchens) and Whessoe Engineering. With 1.25 million consumers living within 45 minutes by van, Greenbox Darlington is also a proven last-mile location.
Greenbox Darlington follows on from the platform’s debut acquisition, Greenbox Thirsk; a development in North Yorkshire of three new industrial / warehouse units delivering to the same sustainability standards and totalling 825,000 sq ft (76,645 sq m). In September 2023 detailed consent for Unit 1 (365,500 sqft (33,956 sq m)) was secured with the remaining 2 units having outline consent.
Romain Ruiz, Member of Management, Private Real Estate, Partners Group, says: “We are excited to announce this new project which aligns perfectly with our commitment to developing new Grade A warehouses and promoting the decarbonisation of the supply chain as part of our Greenbox platform. With this new add-on, Greenbox will be able to expand its footprint in the North East region and offer modern facilities that are built to meet the highest sustainability standards. This acquisition is part of our broader strategy at Partners Group to strengthen our presence in the UK logistics sector and to offer robust and eco-friendly solutions to our clients.”
Alex Reynolds, Development Director at Citivale, says: “This Darlington site is perfectly placed for the Greenbox portfolio. In a highly visible and strategic location for UK wide distribution and last mile, to be able to add an ‘oven-ready’ site to our portfolio sets us up to quickly move forward to provide top-class, sustainable space in a stock deprived market. We already have occupier interest for Greenbox Darlington and with detailed planning permission in place, this will be Greenbox’s first net carbon in construction development to complete, ready for occupation at the end of Q1 2025.”
Savills advised vendors, Premcor Estates Ltd, on the sale of the Darlington site. WSB Property Consultants LLP and Cushman & Wakefield advised the JV. Savills and Cushman & Wakefield are appointed as letting agents for Greenbox Darlington.
