IM Properties’ Mercia Park secures Industrial Deal of the Year over 250,000 sq ft at IAS 2020 Awards7 Oct 2020
Avison Young advised IM Properties on the acquisition of a 247-acre farm at Appleby Magna, as well as providing subsequent master planning and marketing advice.
IM Properties acquired the land at junction 11 of the M42 in 2016 and identified the opportunity to bring forward the site as part of its long-term strategy for delivering high quality, large scale employment parks, attractive to major national and international companies.
The 2.9 million sq ft Mercia Park site, which is currently under development, was pre-let to Jaguar Land Rover in Autumn 2019 and represents the largest ever letting to Jaguar Land Rover in the UK.
IM Properties is working with Jaguar Land Rover to create a new global aftermarket parts distribution centre for the automotive company at Appleby Magna. Once complete, the campus will supply circa. 80 markets worldwide. It is anticipated that the new facility will provide a significant number of jobs and employment will grow in line with the business needs.
Andrew Jackson, Principal & Managing Director at Avison Young, said:
“I am delighted that this project has received the recognition it deserves. It is an astonishing achievement that the site has been taken from unallocated farm land to become one of the UK’s largest logistics park in just 4 years”.
The Industrial Agents Society Awards were held on Thursday 24th September and celebrated the success and achievements of the industrial property sector.