Partners Group, a leading global private markets firm, acting on behalf of its clients, has formed a new joint venture with Citivale, a UK specialist logistics developer and operator, to launch Greenbox, a real estate platform to provide new-build industrial and logistics schemes with market-leading environmental credentials.
Greenbox will combine Partners Group’s extensive, international experience in the industrial and supply chain sectors with Citivale’s deep UK logistics expertise to deliver sustainable assets in strategic locations. The platform’s assets will achieve BREEAM Excellent and EPC A ratings and target net-zero carbon in construction.
Romain Ruiz, Member of Management, Private Real Estate, Partners Group, says: “We have strong conviction in enhanced traditional logistics, particularly in the UK where our thematic research shows that occupier demand has remained resilient. We are delighted to be working in partnership with the Citivale team to build an industrial logistics platform to serve the UK market that will lead the way in sustainability, reflecting our focus on ESG.”
James Appleton-Metcalfe, Founder of Citivale, says: “It’s an exciting time to be launching Greenbox, as the market is pushing forward in sustainable industrial development to provide much needed new, quality and future-proofed green industrial space to meet the strong tenant demand across the UK. In partnership with Partners Group, the JV will be actively seeking opportunities to scale the platform through development while creating a lasting, positive impact.”
Greenbox’s first venture is Greenbox Thirsk, a development of three new industrial / warehouse units in North Yorkshire, which set the standard for Greenbox’s commitment to exceptional sustainability practices. The site has outline planning consent for up to 825,000 sq ft (76,645 sq m) of manufacturing and logistics space, scheduled to be ready for occupation from Q3 2024.
Greenbox Thirsk is located in an established distribution and manufacturing hub, less than 5 minutes from both J49 of the A1(M) and the A19 at Thirsk, with access to the North East, Teesside and Tyneside. Neighbouring occupiers include Cargill, Inspired Pet Nutrition (IPN), Severfield PLC, Cleveland Steel & Tubes, Wetherby Group and I’Anson.
The scheme will provide three prime industrial / warehouse units, ranging from 182,000 to 365,000 sq ft (16,908 to 33,909 sq m), with enhanced specifications including 15m haunch heights, 55m yard depths, 50Kn / m2 floor loading, a mix of ground level and dock loading doors and high-quality office space.
In line with Greenbox’s ESG commitments, schemes will target net-zero carbon in construction, BREEAM Excellent and EPC A ratings. The roofs will be 100% photovoltaic panel ready, 10% of parking spaces will be for electric cars (future-proofed for all spaces), and CAT-A fitted office space is proposed with LED lighting and air-source heat pumps. Bespoke units, built to individual occupiers’ specific requirements, can also be accommodated.
Colliers and Carter Towler have been appointed as letting agents for Greenbox Thirsk.
Simon Hill, Colliers’ Associate Director, Industrial & Logistics, comments: “We are delighted to be appointed by Partners Group and Citivale to market this well positioned logistics and manufacturing hub. Greenbox Thirsk will help address the supply/demand imbalance of employment space in North Yorkshire by providing premium quality industrial stock. Occupiers locating here will benefit from first rate ESG credentials, a large employment catchment and excellent highway connections.”
Simon Hill adds: “The development plans have been well received with several enquiries to date. We are in live discussions with a number of occupiers who are considering locating here and bringing new employment to the area. We look forward to progressing these discussions further.”