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GLP leases second building at Magna Park Lutterworth to Iron Mountain

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GLP, a leading investor and developer of logistics warehouses and distribution parks, today announces that it has successfully leased a 500,000 SQ FT warehouse at Magna Park North Lutterworth, MPN2, to Iron Mountain, the leading US enterprise information management services company.

This is Iron Mountain’s second lease at Magna Park Lutterworth, having signed a lease for a 300,000 SQ FT MPN3, in December 2021, bringing the company’s total leased space within the park to 800,000 SQ FT. Completion of both buildings is expected imminently. With this latest agreement, GLP has leased all 1 million SQ FT of speculative space at Magna Park North Lutterworth ahead of practical completion.  

Magna Park Lutterworth is the UK and Europe’s largest dedicated logistics and distribution park, situated within the Midlands’ ‘Golden Triangle’ of logistics. Home to 36 different customers and occupying in excess of 11 million SQ FT of sustainable floor space across 41 buildings, Magna Park Lutterworth is GLP’s flagship distribution park.

Both buildings leased by Iron Mountain have best-in-class specification and ESG features including wide service yards, significant HGV and car parking allocations, dock levelers, level access doors, increased natural light, electric vehicle charging and abundant power supply. Each warehouse is also BREEAM Excellent, designed to WELL principles and features a range of sustainability and energy efficiency measures.

Olivia Hinds, Development Director at GLP, explains: “We are delighted to welcome Iron Mountain to Magna Park Lutterworth across their two buildings totalling 800k sq.ft and we look forward to supporting them with their future expansion. This has been a period of significant activity at Magna Park Lutterworth with a series of development and lease agreements to valued customers. The leasing of all 1 million sq.ft of speculative space at Magna Park North ahead of practical completion is testament to the parks position as Europe’s leading logistics and distribution park and indicates the strong levels of demand we have seen for high quality warehouse space.”  

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BDC 299 December 2022