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Tritax Symmetry

Tritax appoints GMI to build new 158,000 sq ft build to suit facility.

Development is being built for leading UK confectionary manufacturer Swizzels at the new MA6NITUDE logistics/industrial development in Middlewich, Cheshire. GMI Construction Group PLC has today announced that it has been appointed by Magnitude Land LLP, a joint venture between Tritax Symmetry, the development arm of Tritax Big Box and NPLL

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Tritax appoints GMI on 190,000 sq ft logistics scheme in Middlewich

Significant new project will see development of two new speculative logistics/warehouse units of 149,000 and 41,000 sq ft… GMI Construction has announced that it has been instructed by leading logistics development company Tritax Symmetry to develop a huge new speculative logistics/warehouse scheme at a site in Middlewich known as MA6NITUDE.

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Speculative Development of 190,000 sq ft kicks off at MA6NITUDE

Tritax Symmetry has marked the start of work on site to develop 190,000 sq ft logistics / warehouse accommodation with an official ground-breaking ceremony at MA6NITUDE in Middlewich, Cheshire. Main contractor GMI Construction has commenced the construction of units 11 and 12, which will offer 149,000 sq ft and 41,000

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The Economic Contribution of Logistics in the Northern Powerhouse

The logistics sector across the Northern Powerhouse region has the potential to achieve transformational growth and create an additional 174,000 jobs by 2050 if key barriers are addressed, according to research by logistics developer Tritax Symmetry and planning and development consultancy Turley. Areas identified as needing ‘substantial improvement’ to achieve

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UK Shed space under offer tops 10 million sq ft

More than 10 million sq ft of warehouse space was under offer at the beginning of 2020 – a 233% increase since end of 2018, according to CBRE. In its latest trading update investor developer Tritax Symmetry chief executive, fund management, Colin Godfrey, said such figures looked promising for developers

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Latest Issue

BDC 318 : Jul 2024

Tritax Symmetry

500,000 Sq Ft Cross Dock Facility To Be Developed at Symmetry Park Kettering

500,000 Sq Ft Cross Dock Facility To Be Developed at Symmetry Park Kettering

Tritax Symmetry has announced it is to speculatively develop a new 500,000 sq ft cross dock logistics facility at Symmetry Park, Kettering: Kettering 500. Main contractor Buckingham Group has been appointed to deliver the building which will be built to Net Zero Carbon in Construction and target a minimum BREEAM Excellent and EPC A rating. Work will commence on site in July with practical completion scheduled for April 2024. This facility marks the second unit to be brought forward at Symmetry Park, Kettering. In February 2023 a facility of 312,875 sq ft was completed and pre-let on a 15-year lease. Speaking about the decision, Jonathan Wallis, Development Director and Head of Tritax Symmetry’s Northampton office, said: “Our decision to speculatively develop Kettering 500 is a direct response to extensive research into the occupational market which highlighted a supply vs demand imbalance in the 500,000 sq ft size bracket. Kettering 500 will showcase a best-in-class institutional specification, together with Tritax Symmetry’s own high design and sustainability standards. “Symmetry Park, Kettering represents a new era of logistics development, with wellbeing, sustainability and power security playing a fundamental role in the design.  It is this customer and employee-based approach that has helped us attract multi-national organisations whose ESG values very much mirror our own and give us the confidence to commit to further speculative development.” James Harrison, International Partner, at Cushman & Wakefield, commented: “This bold decision from Tritax Symmetry demonstrates its confidence in the UK logistics market and the strength of the A14 corridor as a logistics warehouse location. This facility is being built to meet the demand of businesses looking to occupy a building with the very best ESG credentials in an established logistics hot spot.” Symmetry Park, Kettering is located on a 136-acre site alongside Junction 9 on the A41 and has outline planning consent for 2,310,000 sq ft of logistics floor space. Cushman and Wakefield and BNP Paribas Real Estate are joint letting agents for Symmetry Park, Kettering. The project team includes Stephen George + Partners (architect), Trinity Property Consultants (project manager), Buckingham Group Contracting (construction), Feasibility (quantity surveyor), Framptons Town Planning (planning consultants), WSP (Highways and Structural Engineers), EDP (landscape and ecology) and Hannan Associates (Mechanical Engineers). Building, Design & Construction Magazine | The Choice of Industry Professionals 

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Tritax appoints GMI to build new 158,000 sq ft build to suit facility.

Development is being built for leading UK confectionary manufacturer Swizzels at the new MA6NITUDE logistics/industrial development in Middlewich, Cheshire. GMI Construction Group PLC has today announced that it has been appointed by Magnitude Land LLP, a joint venture between Tritax Symmetry, the development arm of Tritax Big Box and NPLL to commence work on a new 158,000 sq ft facility for leading UK confectionary company Swizzels at the MA6NITUDE logistics/industrial development situated in Middlewich, Cheshire. To herald the announcement of the project a ground-breaking ceremony was held onsite involving dignitaries from GMI and Tritax together with members of the extended project team. Construction of the AEW designed new facility started at the beginning of 2022 and is expected to be complete by the end of 2022.  The facility represents the first phase of Swizzels’ expanded manufacturing/distribution capacity, which could grow up to 458,000 sq ft as future phases are added. To the northern area of the site at MA6NITUDE, Tritax Symmetry and GMI are delivering two new build facilities which are being built on a speculative basis and will comprise 149,000 sq ft and 41,000 sq ft. and expected to be available in June 2022.  Speaking about the announcement Marc Banks, Divisional Marketing Director GMI Construction Group said: “We are absolutely delighted to have been instructed by Tritax to construct this important new facility for famous UK Confectionery manufacturer Swizzels.  This follows our successful appointment on the adjacent plot where GMI is well along presently with the construction of new two speculative warehouse units of 149,000 and 41,000 sq ft respectively.  GMI enjoys a strong and expanding working relationship with Tritax and we look forward to delivering another high-quality outcome for them.” Also Speaking about the next phases of development at MA6NITUDE, David Nuttall, development director at Tritax Symmetry, commented: “MA6NITUDE continues to evolve and with the two new speculative buildings available in the summer, we are well placed to welcome new high-quality occupiers to the area. Swizzels’ new manufacturing building will be an exceptional facility for their business and also opens up a further plot to enable us to deliver a 230,000 sq ft building by early 2023.”. Matt Pochin, director at Legat Owen, joint agents for the scheme with Savills and B8 Real Estate continued: “MA6NITUDE is already a major business destination in its own right and the high-level of activity, coupled with the fact that the speculatively developed units are constructed to net zero carbon in construction, will certainly appeal to businesses looking for more sustainable accommodation in line with their own ESG values”. Magnitude Land is being advised by project team including RPS (PM/QS), AEW Architects, civils and infrastructure specialist SGI, and CMS Solicitors.

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Tritax appoints GMI on 190,000 sq ft logistics scheme in Middlewich

Significant new project will see development of two new speculative logistics/warehouse units of 149,000 and 41,000 sq ft… GMI Construction has announced that it has been instructed by leading logistics development company Tritax Symmetry to develop a huge new speculative logistics/warehouse scheme at a site in Middlewich known as MA6NITUDE. Infrastructure works are well underway on the Cheshire East development site which will see the construction of two units of 149,000 and 41,000 sq ft respectively. Both units will be net zero carbon in their construction and when complete, 15% of the roofs will be fitted with solar panels with the ability for the roofs to be fully covered in photovoltaic panels at a future date. Speaking about the instruction, Marc Banks, Divisional Managing Director at GMI Construction, said: “We are delighted to be working with Tritax Symmetry to deliver these important new facilities in Middlewich. Our team has made an excellent start and the site is already taking shape to what will eventually be a first-class sustainable building that will be a huge business asset to the area.” Also commenting David Nuttall, Development Director at Tritax Symmetry, said: “We are excited to see spades go in the ground here at MA6NITUDE and bring forward high quality facilities at a time when demand for space is at record levels. “There is a huge amount of activity happening across the site, with Swizzels’ facility also due to complete next year and detailed planning submitted for 238,000 sq ft of space at unit 41 which could also be delivered before the end of 2022.” Jonathan Atherton, Director at Savills, joint letting agents for the scheme with B8RE and Legat Owen, added: “The development at MA6NITUDE will provide much needed floor space to a market when supply is falling at its fastest ever rate. The location and quality of the units are expected to attract strong occupier interest.” This scheme is being delivered by GMI’s expert operations team including Project Manager, Dan Meadowcroft, Site Manager, Rebecca Shiels, Site Engineer, James Rushton, and supported by Construction Director, Anthony Judge. For further information about the development visit: https://ma6nitude.com/

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Speculative Development of 190,000 sq ft kicks off at MA6NITUDE

Tritax Symmetry has marked the start of work on site to develop 190,000 sq ft logistics / warehouse accommodation with an official ground-breaking ceremony at MA6NITUDE in Middlewich, Cheshire. Main contractor GMI Construction has commenced the construction of units 11 and 12, which will offer 149,000 sq ft and 41,000 sq ft respectively. The units will be built to net zero carbon in construction; will include 15% PV roof coverage as standard and the capacity to accommodate 100% PV roof coverage. Speaking about the start on site at MA6NITUDE, Development Director David Nuttall, commented: “We are excited to see spades go in the ground here at MA6NITUDE and bring forward high quality facilities at a time when demand for space is at record levels. There is a huge amount of activity happening across the site, with Swizzels’ facility also due to complete next year and detailed planning submitted for 238,000 sq ft of space at unit 41 which could also be delivered before the end of 2022.” Jonathan Atherton, Director at Savills, joint letting agents for the scheme with B8RE and Legat Owen, continued: “The development at Ma6nitude will provide much needed floor space to a market when supply is falling at its fastest ever rate. The location and quality of the units are expected to attract strong occupier interest.” Marc Banks, Divisional Managing Director at GMI Construction said: “We are delighted to be working with Tritax Symmetry to deliver the new facilities in Middlewich. Our team has made an excellent start and the site is already taking shape to what will eventually be a first-class sustainable building that will be a huge business asset to the area.”

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The Economic Contribution of Logistics in the Northern Powerhouse

The logistics sector across the Northern Powerhouse region has the potential to achieve transformational growth and create an additional 174,000 jobs by 2050 if key barriers are addressed, according to research by logistics developer Tritax Symmetry and planning and development consultancy Turley. Areas identified as needing ‘substantial improvement’ to achieve the region’s growth potential include: supply of sites and premises, infrastructure investment and development, closing the North’s skills gap and delivering planning policy reform. The Gross Value Added (GVA) of the logistics sector in the North of England is £15.3 bn a year and is estimated to rise to £20.9bn a year by 2039. The research looked at numerous reports including the 2016  Northern Powerhouse Independent Economic Review which identified the potential growth of the logistics sector under a ‘transformational growth’ scenario. Under this scenario, the sector is identified as having the potential to achieve growth of 174,000 jobs (11%) and £29.6 billion GVA (8%) between 2015 and 2050. Split evenly by year, this equates to an average of 4,970 jobs and £845 million GVA growth per annum, resulting in an estimated annual salary increase of £5.3bn and a total additional 29,190 professional positions. The ‘transformational’ scenario would require in the region of 130 million sq ft of floorspace across 3,000 ha of land. Based on existing ratios of warehouse floorspace to homes, the three regions of the Northern Powerhouse are currently under-delivering logistics floorspace in comparison to housing growth. Commenting on the findings, Matt Claxton planning director at Tritax Symmetry said: “The potential for transformational growth is only achievable if the logistics sector is able to operate effectively and grow so we need to address these issues as a matter of priority. “If these are resolved we have the potential to increase productivity and employment in the North, closing the prosperity gap between it and the rest of England. Logistics is an economic enabling sector, and if this growth is stymied or not supported, then the growth potential of other sectors will likewise be curtailed.” David Diggle, director, planning at Turley continues: “Over the three years to 2018, 15,000 logistics jobs were created in the Northern Powerhouse which is already in line with the ‘transformational scenario’ outlined so it would certainly seem that the Northern Powerhouse is capable of achieving this potential but we need to tackle these areas to ensure we maximise the opportunity for growth.” Speaking about the report’s recommendations Amy Gilham, director, economics at Turley said: “Based on our findings, we have made six key recommendations which will support growth in the logistics sector. The recommendations which include a holistic consideration of logistics space within urban centre development, the quick adoption of strategic spatial plans and ensuring appropriate and adequate allocation of sites for B8 uses, will enable transformational growth of the Northern Powerhouse. “ The Northern Powerhouse region is already home to 25% of the UK’s logistics businesses employing more than 263,000 people. With 12,350 warehouse properties (31% of all properties in England) totalling 538m sq ft (32% of all in England) it has seen an 80% business growth in the five years to 2019. Some of the report’s key findings include: Supply While the North West has the second largest supply of large units of the UK’s regions, the five year average take up of grade A space indicates that there is just 1.45 years left of supply in this area. Speculative development has continued in the region for units over 100,000sqft though generally there is a limited development pipeline of larger units. In Yorkshire and the North East, a record level of take up in 2018 has led to a decline in available supply.  In South Yorkshire demand for medium-sized units has increased and activity for larger units has been driven by single transactions such as Amazon at Doncaster iPort. There is a shortage of supply of units under 20,000 sq ft and limited availability of mid-sized units. In West Yorkshire there is supply of around 1.7m sq ft for units over 50,000 sq ft due to continued take up and limited speculative development. The North East is seeing a decline in the supply of large units, particular Grade A, given limited development activity. Skills The logistics industry is made up of many different parts that perform very different functions, and this results in a variety of employment opportunities, both skilled and unskilled, on a full time and part time basis. As the logistics sector becomes increasingly automated there is a need for a greater range of skills within the sector, including IT and engineering. Some steps are already being taken to address the skills gap with developers, occupiers and further/higher education providers working together to develop logistics-specific curriculums as part of the delivery of large new logistics sites. Logistics developers are also working closely with LPAs, local business groups, colleges and skills and training organisations to deliver Training and Employment Management Plans, in order to ensure jobs, training and work experience opportunities are realised for the local area for the lifetime of the development. Leaders of the Northern Powerhouse will need to continue to work with skills and training providers to ensure that the workforce’s skills are well matched to employer requirements. Infrastructure The northern ports are facing a number of challenges around finding suitable land for expansion of existing operations, particularly in relation to port access via road and rail. Digital connectivity (high speed broadband) and power supply are commonly cited by logistics operators as barriers in seeking new sites and premises from which to operate. Improvements to routes which join ports to national transport networks are also required. These include road and rail which at present can be slow and unreliable, further reducing competitiveness. Dedicated air cargo services are currently limited which means that much of the air freight which arrives or departs from the North of England is moved by road. Introduction of dedicated cargo services, or a greater number of long haul passenger services, will help generate

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UK Shed space under offer tops 10 million sq ft

More than 10 million sq ft of warehouse space was under offer at the beginning of 2020 – a 233% increase since end of 2018, according to CBRE. In its latest trading update investor developer Tritax Symmetry chief executive, fund management, Colin Godfrey, said such figures looked promising for developers and investors in the logistics property sector. “Occupier take-up looks promising for 2020 with over 10 million sq ft of lettings reported to be under offer and carried over from 2019,” said Godfrey. “Speculative supply has slightly decreased from 2018, but importantly reduced by circa 50% for buildings over 500,000 sq ft, where demand continues to outstrip supply. Attractive levels of rental growth are therefore expected to continue. “The market for very large Big Box logistics assets continues to display strong fundamentals for 2020 and the longer term. Structural tailwinds are supportive as occupiers upscale the size of their logistics assets to further increase efficiency, reduce costs and rationalise their supply chains, in the face of the rapid transition to omni-channel purchasing by consumers.” Big box availability decreases However, according to CBRE, the UK’s Big Box logistics availability slightly decreased through 2019 to just over 27 million sq ft. Take up in 2019 topped 25 million sq ft means that on last years’ take up figures there is approximately just over one years’ supply going forward. There were 92 deals were signed throughout 2019.  Of that 43.4% of the space taken related to units between 100,000 and 300,000 sq ft, resulting in an average deal size of 275,858 sq ft. 3PLs providers took the most space during 2019 (accounting for 22.7% of take- up), with online retailers on second position (22.1%) and the motor industry completing the podium (18.3%). Spec shed development increases Meanwhile, over the course of 2019, available supply – including speculative space under construction – rose by 15% according to the latest research from JLL. Jon Sleeman, director of UK research at JLL, said: “We saw more speculative starts take place in 2019 and at the end of the year there was 5.1 million sq ft speculatively under construction.  We expect to see further speculative development take place this year but overall, against a backdrop of good levels of demand in the market, we are not anticipating an increase in our national vacancy rate this year.” Quiet Q4 for warehouse property market Finally Gerald Eve’s latest Prime Logistics report states that the last quarter of the year was hit by ‘economic and political uncertainty in the UK’. Take up was 24% lower than Q3, with 10.5 million sq ft taken-up in Q4, the overall volume was 11% below the 5-year quarterly average but in line with the 10-year average. Overall take-up during 2019 totalled 47 million sq ft, which was 7% down on 2018, but comfortably above the 10-year annual average.

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