02/12/2024 | News release | Distributed by Public on 02/12/2024 05:14
Clifford Chance advises MEDLOG on its takeover of operations at iPort Rail freight terminal
Global law firm Clifford Chance has advised new client MEDLOG, the global logistics and supply chain provider, on its takeover of the operation of the iPort Rail multimodal freight terminal in Doncaster, UK. MEDLOG formally entered into a lease of Phase 1 of iPort Rail on 4 February 2024, with the existing iPort Rail team remaining in place to ensure that the operation continues seamlessly in order to provide continuity for customers.
iPort Rail is an open access terminal with daily services running to and from Southampton, Felixstowe, Teesport and Scotland. It is an important facility within the wider iPort logistics hub that accommodates distribution facilities for businesses including Amazon, CEVA, Fellowes, Lidl, Woodland Group and EuroPool Systems.
iPort's developer Verdion is now commencing Phase 2 of iPort Rail which has been pre-let to MEDLOG. Phase 2 will double storage capacity at the terminal and increase the number of trains it can accommodate daily, providing extra capacity to continue the low-carbon movement of goods to existing iPort occupiers and businesses across the region.
The transaction team was led by Real Estate Partner Ian Painter who said: "It has been a pleasure working with the MEDLOG team on expanding their UK rail operations and to help bring the development and leasing of two phases of this strategically important freight terminal to fruition. The transaction highlights two areas of deep expertise for the Clifford Chance team - our real estate development and infrastructure investment capabilities - and emphasises our ability to operate multi-disciplinary teams seamlessly across practice areas with the deal requiring real estate, rail regulatory, planning and environment, construction, employment and intellectual property input."
Ian was supported by Senior Associates Holly Porter and Katie Kempthorne on real estate and rail regulatory/planning matters respectively, as well as Real Estate trainee Gyasi Vialva-Husbands. Planning assistance was provided by Head of Environment & Planning Nigel Howorth; construction input was provided by Construction Partner Ed Bretherton and Associate Amber Miller; employment advice was provided by Partner Alastair Windass and Senior Associate Alistair Green; intellectual property input was provided by Partner Don McCombie and Senior Associate Alex Walker.
MEDLOG is a global logistics and supply chain operator that facilitates inland transportation of goods with integrity, responsibility and respect for the environment. MEDLOG operates independently as part of the MSC Group of companies, encompassing a Cargo Division with Mediterranean Shipping Company (MSC), Terminal Investment Limited (TiL), MEDLOG, and a Passenger Division led by MSC Cruises.
Verdion is a European investor, developer and asset manager in the field of industrial and logistics real estate. Verdion develops highly specialised buildings for large internet mail order companies, industrial companies and logistics providers. Through new construction and investment in value-add strategies in Germany, the UK, Scandinavia and Benelux, it has built a logistics portfolio worth around €2.5 billion across Europe. The development pipeline currently comprises more than 1.1 million square metres.