Texans Ride Into U.K. Industrials, Starting In The Midlands
Texan development giant Hillwood is planning to invest £400M in the U.K. logistics and industrial property sector over the next two years, and is starting in the Midlands.
Birmingham-based Trebor say the mandate stretches to Leeds, Manchester and the M4 Corridor as well as the West Midlands. They are looking at speculative development, as well as pre-let deals with occupiers.
Trebor has long been one of the most active developers in the Midlands, building 1M SF last year, focusing on the 30K SF to 300K SF range.
Hillwood, which owns 55M SF of industrial floorspace and is probably best known for the 26,000-acre Alliance Texas industrial development at Fort Worth, launched a European operation in 2013. This has concentrated on a growing portfolio in Germany and Poland, but the firm is now moving heavily into U.K. industrials.
“A partnership with Trebor is a natural extension to our existing operations in Germany and Poland, as it provides local expertise and will add high-quality logistics assets to Hillwood’s existing European portfolio. In addition to the Trebor joint venture, Hillwood plans additional growth in both the United Kingdom and other European submarkets,” Hillwood Chairman Ross Perot Jr. said.
“There were a number of development companies that Hillwood could have selected and we’re looking forward to forging an enduring relationship with many new schemes,” Trebor Managing Director Bob Tattrie said.