Member Article

JMW Solicitors advises Curzon De Vere on £37M sale of four units at Port One Logistics Park

Full-service law firm JMW Solicitors and Commercial Real Estate consultants Knight Frank have advised property developer Curzon de Vere on the sale of four units at Port One Logistics Park, East Anglia’s first carbon neutral logistics park for a figure approaching £37 million. 

The buyer, a private client mandate of Tritax, has acquired the freehold investment of units seven to ten, all of which are already let to various operators, with a cumulative floor area totalling circa 268,000 sq ft. 

Sustainability is ingrained into the ethos of the design and planning underpinning Port One, and the units have been constructed with genuine eco credentials. Curzon de Vere has committed more than £14m into the provision of solar roofing at the Park, including more than 80 acres of photo voltaic roofing panels generating power that can supply the warehouse needs for high-speed car charging, office lighting and fork truck operation. All new units have been carbon neutral since May 2023.

The location of Port One is also geographically advantageous, with its proximity to Felixstowe making the scheme the most centrally located customs site within the Freeport East Zone, encompassing both Felixstowe and Harwich which together form the UK’s largest container port.  

Simon Maddox, Real Estate Partner at JMW Solicitors who led the legal team for this transaction assisted by Robin Sharp, Bernard Ralph, Holly O’Farrell and Arti Dawar, said: “We’ve been pleased to work with Curzon de Vere and Knight Frank on Port One Logistics Park, and this latest deal reflects the continuing demand for high quality industrial and logistics stock within key strategic locations.

“We’re looking forward to working alongside the team as Port One continues to take shape, and work on the next Phase begins.”

Matt Slater of Curzon de Vere said: “Both the JMW and Knight Frank teams have delivered consistently excellent advice on this strategic development, and we fully expect demand to remain high not only for the final few units of Phase One but also for the upcoming Phase Two. High-quality, well-located schemes remain in significant demand and we feel Port One ticks the boxes in this regard”.

Charles Divall, Head of Industrial Capital Markets at Knight Frank, added: “The buyer is the latest in a series of established investors who have chosen to acquire at Port One, following prior transactions with London Metric and Mirastar, and the bidding process to date has been extremely competitive, which is clearly indicative of a best in class offering”.

TT&G represented the buyer.  

This was posted in Bdaily's Members' News section by Gill Alexander .