Newdock, the firm created by Goldman Sachs, invests 40 million euros in acquiring seven plots of land in the southeast of Madrid. The company aims to create a new logistics hub in the strategic and developing area of Los Ahijones.
The tertiary plots were acquired from Los Ahijones compensation board to use as logistics platforms, with the largest plot being about 20,000 square meters. The development is in the district of Vicálvaro and bordered by the M-45, M-50 and Radial 3 motorways, making it highly attractive for logistics operators, especially as a Last Mile point.
Los Ahijones is one of the five areas that make up the real estate developments of the southeast of Madrid. The urbanisation works began in 2021 and the first homes are expected by 2023. In total 17,000 homes are planned to be developed with two large national real estate developers being involved. In addition to residential plans, 13.5% of the territory will be allocated to tertiary uses and 19% to industrial uses.
Newdock was launched about a year ago and is a Goldman Sachs Asset Management platform dedicated to developing and managing logistics assets in Spain and Portugal. The company led by Fátima Sáez del Cano has managed to create a seed portfolio with 850,000 square meters and 700 million euros of investment.
In addition to Los Ahijones, Newdock owns plots in areas such as Parla, Arroyomolinos, Getafe (Madrid), Illescas (Toledo) and Cártama (Málaga). “Our assets are above the average standard, which makes them very attractive in the market. 80% of our portfolio is located in Madrid,” says Sáez del Cano. “We would like to expand our presence with a project in Málaga capital. Catalonia and the Basque Country are also priority number one, and we are interested in areas such as Granada, Seville, Asturias and, of course, Portugal.”
The e-commerce boom has caused a substantial increase in the demand for logistics assets in Spain, especially large spaces well located to provide the well-known Last Mile service. Investors and developers of logistics warehouses plan to undertake a record number in of new projects, placing it as the greatest non-residential asset above offices and shopping centres.
In the case of Madrid, where companies such as the e-commerce giants Amazon, Inditex, Primark, El Corte Inglés and Dia have logistics platforms, six projects were completed last year. While the south of the capital has 11 logistics developments and the vast majority of the new projects.