Commercial People has learned that a leading real estate developer, Graftongate, is set to deliver a new £30 million advanced helicopter logistics hub on behalf of Italian aerospace giant, Leonardo.
Based in Yeovil, Somerset, the 210,000 sq ft project will consolidate eight existing warehouses into one all-encompassing logistics hub.
Graftongate will deliver the new development on a 35-year lease in partnership with a CBRE Investment Advisory retained pension fund.
Leonardo’s logistics partner, Kuehne+Nagel, will operate the new facility under a ten-year logistics contract.
Construction of the development will commence in August and is scheduled for practical completion in Q4 2022.
Commenting on the development, Jamie Hockaday, Director at Graftongate, said: “We are very pleased to have collaborated with Leonardo Helicopters and Kuehne+Nagel to aid the delivery of the UK’s only onshore helicopter manufacturer.”
Featured Image: CGI of the new £30 million advanced helicopter logistics in Yeovil that is being developed by Graftongate on behalf of Leonardo.