Parkridge and Morley form warehousing fund
Parkridge and Morley Fund Management have formed a fund to develop and own distribution-warehousing parks in Central Europe.
The Logistics Parks will be developed on a pre-let and speculative basis in Poland, Hungary, Slovakia and the Czech Republic with an average park size of 80,000 sq m and totalling 800,000 sq m across the region.
The investors in the fund are Parkridge and the three Morley managed Norwich Union Life funds.
Progress has been quick with four sites already acquired yielding 350,000 sq m of developable area. A further five sites have also been identified.
The operation will be run from Parkridge’s Warsaw office by its joint managing directors Hans van Luijken (leasing) and Piotr Michalski (construction).
