Welspun One Logistics Parks Acquires Two Land Parcels In Lucknow, Farukhnagar

Welspun One Logistics Parks (WOLP) on Tuesday introduced its entry into North India with the acquisition of two land parcels unfold throughout Lucknow in Uttar Pradesh and Farukhnagar in Haryana for creating warehousing initiatives with an funding of Rs 180 crore.

The initiatives will probably be executed below Welspun One”s first Alternate Investment Fund (AIF) product “Welspun One Logistics Parks Fund I”, launched earlier this 12 months, an organization assertion mentioned.

With a gross leasable space aggregating to roughly 8 lakh sq ft, the initiatives will probably be rented to blue-chip tenants from sectors comparable to e-commerce, third-party logistics, and FMCG / FMCD, amongst others, it mentioned.

“With the acquisition of land in Lucknow and Farukhnagar, not only are we offering warehousing facilities designed as per customer needs and in line with global standards, but these developments also mark an important milestone for the local communities as the parks have a potential to create employment opportunities for over 1,500 people approximately across Northern India,” mentioned B Goenka, Chairman, Welspun Group.

The initiatives are aimed toward creating fully-compliant warehousing initiatives incorporating fashionable infrastructure and backed by leading edge know-how, WOLP mentioned.

Welspun One is the primary institutional platform venturing into Lucknow, it mentioned, including their upcoming growth situated off the Lucknow-Kanpur freeway will arm them to higher service the inhabitants of Kanpur, Agra, Jhansi, Rae Bareily, Varanasi, Faizabad, and Prayagraj in addition to the residents of Lucknow.

To expedite building, WOLP has already acquired the mandatory property from a outstanding warehousing developer – PlusNineOne, led by Yash Malhotra. Through this affiliation, Malhotra will proceed to be an integral a part of Welspun One”s enlargement plan throughout this area, as per the discharge.

WOLP mentioned its proposed undertaking in Farukhnagar is likely one of the few websites on this established warehousing hub offering an impartial and devoted campus to an occupier whereas being simply accessible to State Highway 15A.

Further, proximity to outstanding commerce centres, quick access to Delhi-Jaipur Highway and connectivity to the Indira Gandhi International Airport coupled with Haryana”s industry-friendly insurance policies make it one of the beneficial and handy locations for organising a contemporary warehousing and industrial park, WOPL mentioned.

“A recent advancement is the emergence of Tier II & III cities as the new engines of warehousing demand, in the backdrop of online shopping through improved internet penetration supported by income growth and aspirational spend patterns witnessed in the hinterlands,” mentioned Anshul Singhal, Managing Director, Welspun One Logistics Parks.

WOLP, is due to this fact eager on increasing its footprint throughout India, together with the non-metro markets and being the primary institutional Grade-A warehousing participant in Lucknow makes it much more exhilarating, he acknowledged.

“Further, to fortify our aim of becoming one of the most preferred warehousing companies in the country, we shall also focus on building conversation with local players alongside whom we can source land and build first-rate facilities,” Singhal added.  


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