Greenbox acquires Darlington development site

Logistics JV Greenbox has acquired a 24-acre development site in Darlington, which is its second for the portfolio.The JV between Partners Group and Citivale will bring forward the development, which will include three new grade A industrial and warehouse units in the Tees Valley.The site benefits from detailed planning consent for up to 402,150 sq ft of manufacturing and logistics space, and the three consented units are scheduled to be created and ready for occupation from Q1 2025.Greenbox Darlington follows on from the platform’s debut acquisition named Greenbox Thirsk, which will include three industrial and warehouse units.Romain Ruiz, member of management, private real estate, Partners Group, said: “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, added: “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 vendor, 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.