Gazeley - Offices Development - Sittingbourne, G.Park Sittingbourne Expands by 1.85m Sq Ft

Date: 20 Nov 2006

Gazeley UK Limited has secured planning permission to build four new distribution centres - including a single warehouse unit of 1 million sq ft (92,900 sq m) - at its new logistics park, G.Park Sittingbourne in Kent.

The 1 million sq ft (92,900 sq m) 'mega shed' will be the largest distribution warehouse centre ever built by the logistics developer and is the largest available design & build warehouse opportunity currently consented in the south of the England.

Swale Borough Council Planning Committee granted reserved matters planning permission for the developer, in joint venture partnership with Standard Life Investments, to create four new warehouse buildings totalling 1.85m sq ft (167,220 sq m). The developer is seeking pre-let agreements with a view to delivering operational buildings in the second quarter of 2007.

The B2, B8 and B1 units will be built in a sustainable manner and incorporate cutting edge EcoTemplate* environmental initiatives included in Gazeley's standard specification and at no extra cost to the incoming occupier.

James Behrens, development director for Gazeley said: "Swale Borough Council has given the go ahead for a remarkable logistics park opportunity. The impressive scale of the accommodation is only part of the story. We are continuing to offer customers' leading-edge environmental solutions in the drive to cut energy and water use and greatly reduce the carbon footprint of warehouse buildings.

"The great advantage of G.Park Sittingbourne is the availability of large scale logistics facilities close to London but at significant discounts to M25 rents starting at less than £5.00 per sq ft (£53.82 per sq m)."

Martin McGuire, investment director, at Standard Life Investments said: "We are delighted to be investing in such an exciting and environmentally friendly development project, so well located in this part of Kent and which will be an excellent acquisition for our Funds."

G.Park Sittingbourne is a 126-acres (51-hectares) logistics park located near Kemsley in Sittingbourne, Kent. The site has access to the A249 and M2 (Junction 5) and M20 motorways, with the Channel Tunnel and ports of Sheerness and Tilbury located nearby. The strategic site is one of the largest development sites in the South East and was purchased by the joint venture in July 2006 for £20 million from Kemsley Fields ltd.

Savills, GVA Grimley and CB Richard Ellis are joint letting agents for the new logistics park scheme and are quoting rents from £4.95 per sq ft (£53.28 per sq m).

G.Park Sittingbourne.

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