Cubex are pleased to announce the acquisition of a 9.5-acre site in Magor, Monmouthshire, directly adjacent to the M4. The business plan is to obtain planning permission for and to speculatively develop a Grade A 160,000 sq.ft logistics unit which will have a GDV of £30m.
ESG criteria has been incorporated into all areas of the design for the new scheme, which is targeting BREEAM Excellent and EPC A rating. The scheme will include 20% electric car charging points and 15% roof lights to the warehouse space. Energy-efficient lighting, heating, and cooling will be installed to encourage reduced energy consumption above Part L Regulations.
The site is in a prominent position adjacent to Junction 23A of the M4 and is allocated for employment uses. It is highly visible from the motorway which makes it very appealing to occupiers from an advertising perspective.
The site is an established location with AB InBEV, Tesco, Wilkinson and Amazon already present. The site is also well located next to a mixed-use development which comprises office, hotel, retail, and leisure uses which will provide excellent amenities for the future occupiers.
This is the first deal for Joe Downey since becoming a shareholder in Cubex and represents the firm’s continued shift towards the logistics market, a move that highlights the continued strength of the investment market for prime industrial locations. Urban logistics remains a key investment strategy for Cubex, who has significant funding for more speculative industrial and logistics developments in major urban locations across the UK.
Joe Downey, Director at Cubex commented “This acquisition is a fantastic addition to Cubex’s growing development portfolio of logistics assets. We expect to see continued interest from a wide range of occupiers due to the excellent road connectivity, strong labour pool, and lack of competing supply. We look forward to working with Monmouthshire to bring forward a highly specified, sustainable logistics unit, with modern facilities and amenities which will bring significant benefits to future occupiers and their employees.”