Rockspring Property Investment Managers has signed an agreement to develop a logistics facility in Sant Esteve Sesrovires, near Barcelona.
The facility will provide 300,000 sq ft of warehouse space, 32 dock doors and 14,000 sq ft of office space.
Industrial property group Goodman will begin development in August and completion is expected in March 2017.
The property will be marketed and managed by Rockspring, which already manages €.8 billion of assets mainly in France and the UK.
John Thompson, director at Rockspring Iberia, said: “Against a Barcelona market backdrop of strengthening occupier demand, contrasted with a very limited supply of available quality stock, we believe this is an optimum point in the cycle at which to be developing and delivering to the occupational market this state-of-the-art scheme, which comes with the added benefit of Goodman’s expertise and track record.”