Investment News | 18 May 2021

Developer agrees £100m deal to deliver logistics facilities

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A £100 million deal has been agreed to deliver new logistics facilities across the region, including at Castlewood Business Park on the Derbyshire/Nottinghamshire border.

Property giant Clowes Developments has struck the deal with insurance giant NFU Mutual to deliver a total of six logistics facilities, five of which will be speculatively built with the sixth building being a new pre-let facility.

Totalling in excess of a million sq ft, NFU Mutual is investing substantially across three Clowes Developments sites – Castlewood, EMDC, near Castle Donington and Centrix Park, in Northamptonshire.

James Richards, director at Clowes Developments, said: “The deal demonstrates confidence in the marketplace.

“For NFU Mutual to entrust a significant amount of capital in Clowes Developments is recognition for how far the group has come.

“This deal is by far the biggest transaction we have concluded as a group to date but we have other deals in the pipeline and this is an exciting time for the company.”

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