Property
Leading logistics investor Crossbay is investing heavily to refurbish Aero 40 on Farnborough’s Southwood Business Park to the highest of standards. Property consultancy Vail Williams has been appointed to market the 40,740 sq ft warehouse/office premises
Published: January 22, 2024 | Updated: 22nd January 2024
European logistics giant Crossbay has moved into the UK market with the purchase of a 40,740 sq ft Aero 40 warehouse unit in Farnborough.
Property consultancies Vail Williams and JLL have been appointed to market the Southwood Business Park unit.
It’s likely to be available for occupation in the second quarter of this year.
Crossbay is to spend a significant amount on refurbishing the prominently located site when the current tenant, a delivery company, leaves at the end of February.
It’s Europe’s largest logistics platform focusing on single-tenant distribution centres near the continent’s gateway cities.
Ben Ryan, Crossbay Managing Director and Head of Asset Management, UK, said: “Aero 40 marks the bricks and mortar beginning of our journey in the UK.
“We are investing heavily in real estate to benefit, particularly but not solely, logistics occupiers of our many properties.
“Urban logistics and supply chains are integral to everyday life as technology continues to change the way we live and shop.
“Consumers want convenience, flexibility and speed as part of today’s on-demand culture.
“Our well located and connected facilities close to key urban centres across Europe continue to thrive and we anticipate strong interest in Aero 40, in the strategic location of Farnborough”
James Newton, Senior Surveyor at Vail Williams said: “Crossbay will refurbish the unit to a very high standard, making it energy efficient, BREEAM-certified and ready for immediate tenant occupation in Q2 2024
“It is a timely move by Crossbay as there is a real lack of mid-box industrial supply across the regional market and still signs of rental growth.”
Following refurbishment, Aero 40 will benefit from 4 electric level access loading doors, new LED lights throughout, new welfare facilities, Grade A offices, 9m eaves and a large 38m deep secure yard. and 58 parking spaces.
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