Logicor wins IAS award for multi-let industrial asset management

Logicor has won Best Asset Management Initiative for its Martlesham Heath scheme in this year’s Industrial Agents Society (IAS) Awards.

The award was presented to Logicor’s Portfolio Director Gareth Evans at the industry luncheon and awards ceremony held on 26th September at the London Marriott Hotel.

Voted as Best Management Initiative by judges including Colin Beasley, Director and Owner of Graftongate and Chris Davies, Amazon’s EU Senior Real Estate Manager, Martlesham Heath is a bustling industrial estate located in Ipswich, which has evolved dramatically over the past 12 months and beyond, embracing change to meet the business needs of the local community.

The 500,000 sq ft estate was built originally as an Air Force base. Logicor, with the support of its excellent local agents, has collaborated with the multiple tenants and their representatives to create a uniquely diverse estate which is now home to 100 occupiers, including local businesses and multinational companies.

Over recent years, Logicor has developed buildings for Aldi, Home Bargains and Hughes Electrical. Returning stock has seen consistent high-quality refurbishment, allowing retained agents at Savills and Elsom Spettigue to pre-let several buildings.

Gareth Evans comments: “Key to this success has been the desire of Logicor and our agents to work with occupiers of all sizes, resulting in a current occupation of nearly 100%. Activity on the estate crosses the full spectrum of development, refurbishment, new leasing and regear leasing. 57 new leases and regears were secured over the past 3 years with rents increasingly steadily.

“The estate no longer caters solely for the typical ‘industrial’ occupier but has also accommodated local requirements including a Dog Day Care Centre, Cross Fit/Boxing and a local retailer, making the scheme a destination as well as a place of work and industry.”

Charlie Howard, Logicor’s UK Managing Director, says: “The industry recognition for this asset management initiative is a significant milestone in the evolution of the business. This is the first big award won purely on the work within our Multi-Let Industrial (MLI) portfolio, complementing our Big Box work which we are arguable more well known for.

“The IAS awards is the top event in the awards calendar for industrial and logistics and we are delighted to receive recognition for our MLI portfolio, following a number of award wins over the last few years acknowledging our work in other areas.”

In both 2016 and 2017 Logicor was recognised as Fund / Property Company of the Year at the IAS Awards. In 2017 the team also won Best Asset Management Initiative for its 645,000 sq ft letting to XPO in Tamworth.

Charlie adds: “Our UK team continues to work closely with our existing occupiers and new customers alike, utilising our extensive portfolio across the UK, providing logical solutions for these thriving businesses.”