Oxford Properties Group (“Oxford”) and Logistics Capital Partners (“LCP”) has announced an exclusive agreement with Maritime Transport to operate West Midlands Interchange (WMI).
WMI is the largest logistics development in the UK and the agreement will see Maritime Transport as the long-term operator of WMI’s st
rategic rail freight interchange (“SRFI”) on the West Coast Mainline.
The £1billion logistics development project includes 8 million sq. ft of Class A warehousing and could create up to 8,550 jobs in the logistics sector.
Phase one of works at the 734-acre site have begun which include significant earthworks, highways construction, water instillation and the creation of two new community parks.
James Boadle, Senior Vice President at Oxford Properties, said: “This next step to create the leading intermodal logistics facility in the UK’s Golden Triangle is a significant one. Maritime are the leaders in their field, and WMI is the leading logistics development in the country – the two coming together will deliver a significant boost to the regional and national economy.”
James Markby, Managing Partner at LCP, said: “Our agreement with Maritime, securing them as the long-term SRFI operator, demonstrates great confidence in the strategic success of West Midlands Interchange.
“The project is key to decarbonising UK logistics, with rail freight producing up to 70% less CO2 emissions compared to road freight and a leading operator like Maritime will ensure it lives up to its potential.”
John Williams, Group Executive Chairman of Maritime, said: “As the leading road and rail freight logistics provider in the UK, West Midlands Interchange is the obvious next addition to our rail network.
“Being the long-term operator of WMI fits exactly with our wider strategy of decarbonising the full load supply chain by moving cargo closer to the end user by rail.
To find out more about the development click here.