Gazeley - Industrial Development - Lutterworth, Geodis Distribution Centre at Magna Park UK
Date: 20 Oct 2006
Leading logistics property developer, Gazeley, in joint venture with MetLife Inc., has delivered a new 110,215 sq ft (10,239 sq m) distribution facility for Geodis UK Ltd at Magna Park UK in Lutterworth.
The logistics chain manager, which has pre-let the unit for a term of 10 years, has taken possession of the warehouse unit. Geodis UK Ltd is part of the Geodis Group.
The distribution facility was completed - with phased access to operations - in an 11-week construction period using Gazeley's revolutionary G.Track concept. The facility was fully operational at week 18 following an extensive fitting out programme undertaken by the developer. The standard industry build time for a unit of this size is approximately 25 weeks.
Jamie Cuthbert, managing director Geodis UK comments:
"We first approached Gazeley's French network to discuss our urgent property requirements in the UK. Initially we were seeking to move into an 'oven-ready' facility, but we were extremely impressed with the speed of delivery of Gazeley's proven G.Track construction services, which has provided us with a bespoke facility in just 11 weeks.
"The ability to utilise Gazeley's global delivery capability meant that the process was fast, flexible and easy, enabling our business to stay agile in a dynamic business environment and that sealed the deal for us."
Bruce Topley, development director for Gazeley comments:
"This transaction reflects the resurgent demand for warehousing in the traditional 'golden triangle' area for distribution. Geodis came to us with an urgent requirement which we were able to fulfil by delivering a quality 'built to suit' facility to further strengthen their UK logistics operations."
M3 and Burbage Reality are joint letting agents for Magna Park UK, acting for the Gazeley and MetLife Inc. joint venture, while Geodis UK Ltd represented themselves.
In addition, Gazeley has speculatively developed three EcoTemplate warehouses at the park. The units have been branded 'Hydro' 422,784 sq ft (39,277 sq m), 'Therma' 179,880 sq ft (16,710 sq m) and 'Solar' 275,165 sq ft (25,563 sq m) to reflect the energy saving and eco-efficient measures incorporated in the buildings' design.
The eco-initiatives featured at the units are fitted at no extra rental cost to the incoming occupier (100% funded by the developer), which is a direct reflection of Gazeley's effective procurement and pioneering approach to the development of sustainable distribution warehousing.
Over the last 15 years Gazeley has developed 8 million sq ft (743,200 sq m) of distribution space and planted over 1 million trees in and around Magna Park UK, Europe's largest dedicated logistics park. The park has unbeatable transport links and is situated at the centre of the strategic 'golden triangle' formed by the M1, M6, M9 motorways just 8 miles from the nearest international freight terminal. The distribution park is home to 27 distribution operators including Asda, Argos, DHL, TNT, Exel, Lidl, Nissan and Toyota.
The new Geodis facility at Magna Park.
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