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BDC 319 : Aug 2024

joe garwood

GLP completes record leasing & announces new round of spec development at Magna Park Lutterworth

Kenneth Booth February 27, 2022

GLP, a leading investor and developer of logistics warehouses and distribution parks, today announces that it has successfully leased multiple warehouses at Magna Park Lutterworth to top-tier customers, along with commencing speculative development on four units at Magna Park South Lutterworth. 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 over 11 million SQ FT of sustainable floor space across 41 buildings, Magna Park Lutterworth is GLP’s flagship distribution park. The deals in the park include two spec build lettings and a build to suit transaction in the North, plus a letting of an existing building in Magna Park Central: Bleckmann, a fashion and lifestyle supply chain expert, has leased the first of the three “spec builds” in Magna Park North, taking a 200,102 SQ FT building (MPN1) on a long-term lease. The warehouse will be used to service Bleckmann’s increasing number of contracts and will be the company’s second unit leased at Magna Park Lutterworth, after it acquired Tornado-186 18 months ago. Iron Mountain, an information management services company, has signed an agreement to lease MPN3, the third spec building under construction, totaling 297,194 SQ FT. This will support Iron Mountain’s UK expansion strategy.  MPN3 is expected to complete by the end of March 2022.  LX Pantos has taken a building on a built to suit basis – MPN4, totaling 310,000 SQ FT, which is expected to complete by July 2022. LX Pantos is upsizing from an existing facility and plans to use the warehouse to service LG Electronics, amongst other top brands. In a separate development, GLP has completed the letting of Hurricane-258, a 258,000 SQ FT cross-docked distribution unit located within the Magna Park Central Lutterworth development, to Rhenus Home Delivery.  Rhenus intends to operate the unit as a two-man lift operation in response to the further growth of their home delivery business. The letting brings the park close to 100% occupancy, with only MPN2, GLP’s 500,000 SQ FT spec build, available. MPN2 is currently under construction and is expected to complete in March 2022. Following the highly successful development of 1.2 million SQ FT (Phase one) last year in Magna Park South (MPS), GLP has announced it has commenced the next phase (Phase two) of speculative development in MPS, with another 1 million SQ FT being constructed across four buildings. The development will see the construction of 186,000, 211,000, 256,000 and 355,000 SQ FT buildings respectively. Work on-site will commence in Q2 and is expected to complete by Q4 2022. As with all GLP’s developments, the existing and new units follow GLP’s rigorous ESG development standards and benefit from best-in-class specification 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 development is also BREEAM Excellent, designed to WELL principles and features a range of sustainability and energy efficiency measures. Joe Garwood, Senior Development Director at GLP, explains: “This marks an exciting time in the ongoing development of Magna Park Lutterworth, which has been firmly established as Europe’s leading logistics and distribution park. The park has seen unprecedented development and leasing activity in recent months, with GLP completing eight deals over the course of last year totaling 2.2 million SQ FT. We are delighted to partner with such well-established companies, and we look forward to working with Bleckmann, Iron Mountain, LX Pantos and Rhenus Home Delivery and supporting them as they grow.”  

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GLP LEASES 90,000 SQ FT UNIT AT G-PARK NORTHAMPTON TO SF EXPRESS

Kenneth Booth August 5, 2020

GLP, investor and developer of logistics warehouses and distribution parks, today announces that it has leased a 90,000 SQ FT unit at its G-Park Northampton site. The 90,000 SQ FT warehouse has been let to SF Express, a global customer of GLP. The leasing of Unit 2 marks SF Express’ first UK Distribution Centre and will form part of its expanding Supply Chain overseas strategy. GLP has delivered over 5.4 million SQ FT of logistics space for SF Express in China, making them one of GLP’s largest customers in China. G-Park Northampton is in a prime location benefiting from its proximity to the M1 and M40 and is within easy reach of the M6/A14. This puts 90% of the population of England and Wales within a four-hour HGV drive time. G-Park Northampton is located within Moulton Park and comprises three units and one build-to-suit logistics warehouse from 50,000 to 155,000 SQ FT. Grade ‘A’ rated, the highly specified buildings have achieved BREEAM scoring Very Good and are suitable for a range of occupiers including last mile logistics, 3PLs, retail/FMCG and manufacturers. Moulton Park is one of the most successful industrial estates in Northamptonshire and is already home to a wide range of regional and national businesses. Occupiers continue to be attracted by the areas’ exceptional transport links, access to national markets and suitably skilled workforce. Simon Truss, General Manager for Western Europe at SF Express, said: “We are very excited to open 90,000 SQFT of warehousing capacity in Northampton. Following an extensive review we selected Moulton Park because of its optimal location and build quality. The facility will focus on National Distribution for our high value products, and as such will be fitted out to a very high standard.” Joe Garwood, Development Director at GLP Europe, said: “As a long-standing global customer of GLP, we are thrilled to expand our relationship with SF Express and support their expansion into the UK. We look forward to continued collaboration in the UK and beyond”.

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GAZELEY LEASES 186,000 SQ FT UNIT AT MAGNA PARK LUTTERWORTH TO BLECKMANN

Kenneth Booth May 27, 2020

Gazeley, a leading investor and developer of logistics warehouses and distribution parks, today announces the lease of a 186,000 SQ FT unit at its Magna Park Lutterworth site to Bleckmann, a market leader in Supply Chain Management (SCM) services for the fashion and lifestyle brands. The unit has been leased on a long term lease and will serve as Bleckmann’s new distribution centre in the UK. Tornado 186 is a 186,000 SQ FT unit and has been designed to include a range of leading sustainability features, including online energy dashboards to help customers monitor energy usage, as well as rainwater harvesting and technology to optimise the use of natural light. Magna Park Lutterworth is the UK’s first and Europe’s largest dedicated logistics and distribution park. It is currently undergoing development to expand the park from 9 million SQ FT of floor space to nearly 16 million SQ FT in the coming years. Gazeley is also developing a series of new amenities, including wellness and recreation facilities as well as the new Logistics Institute of Technology (LIT). Magna Park, Lutterworth benefits from excellent transport links to the rest of the UK, with 59.3 million people, or 85% of the UK population, within a four hour drive of the development as a result of its easy access to the M1, M6 and M69 motorways. Joe Garwood, Development Director, Gazeley, said: “We are delighted to announce Bleckmann as the newest member of our customer community and look forward to growing our partnership with them in the years to come”. Situated in the heart of the “UK’s Logistics Golden Triangle”, Magna Park Lutterworth is an iconic development, ideally suited to serve the fast-expanding supply chain operations of today’s distribution companies. Four further units on our Magna Park South Lutterworth comprising 746,000 SQ FT, 300,000 SQ FT, 126,000 SQ FT and 98,000 SQ FT will be available for occupancy in Autumn 2020.”

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