Warehouse property giant to invest in China’s smart logistics
GLP, parent company of Gazeley, has established its first fund investing beyond real estate.
The RMB10 billion (US$1.6 billion) Hidden Hill Modern Logistics Private Equity Fund is the only fund in China dedicated to investing in the logistics ecosystem and will be managed by Hidden Hill Capital, the private equity platform of GLP China.
Ming Mei, co-founder and CEO of GLP, said: “The Fund will invest in adjacent growth sectors that complement GLP’s real estate business, with a focus on companies employing technology to enhance efficiency in the logistics industry. We are continuing our strategy of pioneering a smart logistics ecosystem that harnesses technology to enhance returns for our customers.”
19 acre UK site
Gazeley in the UK has acquired a 19-acre redevelopment site at Moulton Park, Northamptonshire to meet the evolving needs from its logistics, distribution and eCommerce customers in the UK.
Gazeley is speculatively developing three new warehouses at the site, which is to be named G.Park Northampton, comprising 50,000 sq ft, 90,000 sq ft and 155,000 sq ft of space. Demolition and construction is expected to commence at the start of June and is scheduled for completion by the end of 2018.
