Warwickshire-based IM Properties has completed a major acquisition of a 45-acre development site for a logistics project in Eastwood, Nottingham from BGL Landfill. Financial details were not disclosed.

Kevin Ashfield, development manager at IM Properties, said the Eastwood site had been purchased due to its prime location and the fact that the site has an existing outline planning permission for up to one million sq ft of distribution space.

'There is growing demand for larger design and build requirements due to the lack of available space capable of offering larger buildings,' he said.

'We are intending to implement works to provide the site infrastructure to enable us to deliver a bespoke building within 12 months.'

The purchase of this 45 acre site at Eastwood is the first of a number of acquisitions IM Properties is looking to make to expand its portfolio of distribution sites. Agents FHP acted for the vendor, whilst IM Properties represented themselves.

Established in 1987, IM Properties is a UK privately owned property group with close to £1 bn of property owned and under management in the UK, France, Germany and the US.