AEW will buy the 512,000 sq ft from Caddick Group and fund the development for its recently launched €290m UK logistics venture with Allianz.
Caddick Construction have been appointed as the main contractor and will deliver the 512,000 sq. ft. facility, now named Wakefield 515.
Wakefield 515, will sit next to the already completed 1.2m sq. ft. distribution centre now occupied by TJX Europe, parent company of retail brands TK Maxx and HomeSense.
Located at Junction 33 on the M62 motorway, Wakefield 515’s strong transport connectivity is expected to appeal to retailers, e-commerce businesses and 3PLs, which would typically look to take a 'big box shed' facility like Wakefield 515.
Being a cross-dock facility, occupiers will benefit from up to 100m yards, 80 dock doors, 229 HGV parking spaces and will be built to market leading specification with a BREEAM ‘Very Good’ rating.
Construction work is due to start onsite early next year, with completion due by winter 2020. Letting agents are Dove Haigh Philips and JLL.