Page 34 - ITLN November - December 2023 for the magzter

News

Lingotto buys 21% ESR acquires 58-acre land in

Nagpur; to invest ₹400 crore
stake in TVS ILP

VS Industrial and the U.K. 's development
TLogistics Parks (TVS finance institution, says an
ILP), a part of TVS Mobility official release.
Group, announced a strategic "This secondary
partnership with Lingotto, transaction has taken place
an investment management at an enterprise value of SR Group has acquired 58 acres of land
company owned by Dutch ₹2,800 crore, emphasising Ein Nagpur with a total development
holding company Exor the potential and size of potential of 1.4 million sq. ft.
controlled by the TVS ILP. Lingotto shall ESR has also commited to invest ₹400
Agnelli family. onboard with a 21 percent crore ($48 million) for the construction
The partnership has shareholding in TVS ILP." and development of ESR Nagpur Logistics
been executed through a TVS ILP has 20 million sq.ft Park 2, which will be the Company’s
secondary stake sale by with 100 percent utilisation second logistics park in Nagpur and its
existing investor British for the past six years, the twentieth park across the country.
International Investor, release added. With the successful land acquisition,
ESR Nagpur Logistics Park 2 will help
boost the supply of modern Grade A
logistics facilities within the Gondkhairi-
Kalmeshwar logistics cluster, where
warehousing primarily comprises
semi-compliant Grade B or C assets.
The Park is designed to accommodate
10 buildings, with building sizes ranging
from 67,000 sq. ft. to 190,000 sq. ft. to
meet a broad spectrum of tenant needs
ranging from e-commerce to third-party
logistics (3PL), retail and fast-moving
consumer goods (FMCG).

Pune, Mumbai dominate industrial,

warehousing leasing demand in 2023

ith 17 mn sq ft of micro-market in Mumbai,
Wgross leasing in the while Chakan-Talegaon
first three quarters of 2023, continued to be the preferred
industrial & warehousing market for industrial
demand across the top five occupiers in Pune. Third-
cities is almost comparable party logistics players (3PLs)
to the corresponding period continued to be the top
of 2022. occupiers of warehousing
Pune led the demand space, contributing to about
during this nine-month 40 percent share in total
period with 24 percent share, warehousing demand till
closely followed by Mumbai According to the report activity picked up in Q3 2023, date. 3PL space uptake
at 23 percent, both edging from Colliers India, despite registering a 55 percent QoQ was driven by healthy
ahead of the usual front- a relatively slower growth growth. Overall, Bhiwandi activity in Mumbai and
runner, Delhi NCR. during H1 2023, leasing remained the most active Chennai particularly.
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