Aviva investors, advised by Montagu Evans, has been granted permission to develop additional logistics space at the Swan Valley Business Park in Northamptonshire.

Under the proposals, a further 126,271 sq ft of space will be created at the south-western corner of the business park, providing an opportunity to develop the area as either one or two units with car parking and HGV parking on site, adding flexibility to the facility.

John Osborn, Director, Real Estate, and Fund Manager at Aviva Investors, said: “The Swan Valley facility is an important logistics site in our portfolio. The opportunity to bring forward the land as either one or two units provides us with the flexibility to continue developing the site in a way that best suits the market requirements. With good transport links both north and south, the facility fits with our continued focus on prime trade and logistics assets as we look to deliver strong and sustainable returns to our investors.”

Swan Valley Business Park is a 2 million sq ft development, with occupiers including Carlsberg, Morrisons, Levi’s and the Royal Mail. The site sits at the south-western corner of the business park, with direct access from existing road infrastructure.

Peter Bovill, Partner at Montagu Evans, said: “This decision will deliver significant additional capacity to one of the region’s most in-demand logistics locations.”