Greenbox Darlington will comprise three buildings. Credit: via Flashbulb PR

Premcor sells Darlington scheme to Greenbox JV

12 December 2023 10:10 Neil Tague Comments (0)

With 400,000 sq ft of industrial space consented, this is the second acquisition made by the joint venture between York developer Citivale and investor Partners Group.

Savills advised vendor Premcor Estates on the sale of the Darlington site. WSB Property Consultants and Cushman & Wakefield advised the JV – Savills and Cushman & Wakefield are appointed as letting agents for Greenbox Darlington.

Greenbox has been established as a platform specialising in green grade A logistics space in the UK, making its first investment with Greenbox Thirsk, where the first detailed consent was secured in September.

The 24-acre development site in Darlington is consented for 402,150 sq ft across three units, with the JV expecting completion at the end of Q1 2025.

In line with Greenbox’s ESG commitments, the project will target an EPC A and BREEAM Excellent rating and will also aim to achieve net carbon zero in construction status.

The partners said that the location is both proven as a manufacturing hub, with occupiers including British Steel, Cummins Engines, Nobia and Whessoe Engineering, and as a ‘last mile’ location, with 1.25m consumers living within 45 minutes by van.

Greenbox Thirsk in North Yorkshire is to total 825,000 sq ft – in September, detailed consent for the 365,000 sq ft Unit 1 was secured with the remaining two units having outline consent.

Romain Ruiz, member of management, private real estate at 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, said: “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.”