Property developer fills second phase of speculative development in ‘golden triangle’
The second phase of a prime industrial distribution and logistics site in Leicester is fully let, after Graftongate secured deals with two tenants whose products have been in high demand during the pandemic.
The leading property developer has signed up Company Shop and Leicester Tissue Company for space at Leicester Distribution Park (LEDP), a joint venture development with Blackrock Investment.
Redistribution supermarket, Company Shop has agreed a 20-year lease on a 50,000 sq ft processing and redistribution hub to serve its growing store portfolio. The new development will include a 15,000 sq ft superstore selling discounted food, clothes and household products to key workers.
Family-run Leicester Tissue Company has signed a five-year lease agreement on a 60,000 sq ft unit as part of its ambitious £85 million expansion plans. A third occupier, crane manufacturer JLG Power Towers, agreed a pre-let last year on Unit 3, a 100,000 sq ft warehouse.
The deals signal the completion of the second phase of development at the 45-acre prime industrial distribution and logistics scheme. All three Grade A units are built to BREEAM ‘very good’ specification and were let within six months of practical completion.
A planning application has been submitted for the four remaining plots on an adjacent 16-acre site, that can accommodate units of between 30,000 and 150,000 sq ft on a design and build basis.
Colin Beasley, Director at Graftongate, said: “We’re very pleased to have let all three available units at LEDP to high-calibre, local occupiers who have been delivering an outstanding service during the pandemic. The speed in which these lettings have been agreed supports our decision to speculatively build out a mid box scheme in Leicester and is testament to the high quality of the accommodation. LEDP is a well located distribution site in an established manufacturing and logistics location at the heart of the ‘golden triangle’. We’re looking forward to progressing with the third phase of this hugely successful scheme.”
LEDP is conveniently located off the A47 near Leicester Forest East, within the Braunstone industrial area, just four miles west of Leicester city centre and less than a mile from the M1. The development benefits from easy access to the UK’s main motorway network and lies just 40 minutes away from East Midlands Airport.
Established in 2001, Graftongate is one of the UK’s leading developers of industrial, logistics and business space. It has a strong track record for delivering speculative and turn-key schemes for a wide range of leading UK and international companies in partnership with UK institutions.
For more information, please contact the scheme’s retained agents, CBRE, M1 and Innes or visit www.leicesterdp.co.uk.