What’s available where?
Spanning some 550 acres, Magna Park at Lutterworth was the cornerstone logistics development of the Golden Triangle, established in 1987.
Today, it is home to 29 different occupiers with significant hubs, from Amazon, Whistl and Asda, to Wayfair and Disney.
The site has gone through many phases of development over the years, a great deal of which has happened recently, with units being snapped up as quickly as they are being delivered.
However, we need to see the next Magna Park come through, as some occupiers find themselves short on space and are beginning to look elsewhere.
Indeed, Rhenus Logistics, who are currently based at Magna Park in a 200,000 sq ft unit, will be relocating to Nuneaton where they have a design and build requirement spanning 900,000 sq ft over two units, by Junction 3 of M6.
Daventry International Rail Freight Terminal (DIRFT)
Delivered slightly later than Magna Park, Prologis DIRFT is recognised as the most successful intermodal (rail/road) logistics park in the UK, owing to its proximity to the M1 motorway and West Coast Mainline.
Home to major occupiers including Eddie Stobbart, DHL and Boohoo, amongst others, it has experienced tremendous success over the years, and still has some development land yet to come forth.
It continues to expand, with a new unit of 327,000 sq ft currently being developed on a speculative basis, which is expected to be available in May .
At Hinckley, occupier demand remains high and there is a significant lack of supply. However, the last phase of IM Properties’ 82-acre scheme at Hinckley Park, Junction 1 of the M69, which extends to 18 acres, is now being marketed for B1 light industrial and B2 general industrial use, across a range of buildings up to 450,000 sq ft.
Situated close to East Midlands Airport, the original Castle Donington Industrial estate is a well-established logistics hub and has moved on significantly over the years.
Today, the area boasts Segro’s Logistics Park – East Midlands Gateway. A 700-acre development adjacent to the airport, which has delivered over 4.5m sq ft of logistics accommodation to date, with a further c.70,000 sq ft available.
Meanwhile Clowes’ 2.5 million sq ft East Midlands Distribution Centre is home to a one million square foot e-commerce Distribution Centre for Marks and Spencer, with available units ranging between 30,000 sq ft to 342,744 sq ft.
Located at J10 of the M42, Tamworth had two main logistics sites at Relay Business Park and Birch Coppice Business Park, which cater for a range of industrial and other retail uses with occupiers including Volkswagen who have a 650,000 sq ft parts facility there.
Now next door to that, a new distribution park is now being developed at Core 42, where rents have reached around £8.25 psf.
Also at Junction 10, St. Modwen Tamworth, where rents are currently sitting at £7.25 psf, is a 321,204 sq ft speculatively built unit recently let to Moonpig on a 15-year lease thanks to its location and quality. The letting gave the developer the confidence to press on with the speculative development of the wider 35-acre park, situated at Junction 10 of the M42.
In Coventry, Goodman has already delivered 800,000 sq ft of industrial and logistics space, including a 464,000 sq ft distribution facility for Amazon and a 135,000 sq ft space to Jaguar Land Rover.
Prologis have now completed Prologis Park Ryton, with the last unit DC9, a speculative unit extending to 330,770 sq ft now let to Ceva Logistics at a rent of £7.50 psf.
To complement that, Coventry Logistics Park, acquired by Bericote in partnership with JP Morgan Asset Management, has been completed and is now fully-let to DHL, Geodis and Viad, where rents have reached £10.00 psf.
Over at Antsy Park, Opus Land are proposing a new grade A industrial scheme comprising three units ranging from 66,000 – 103,000 sq ft for B1 and B2 uses. Meanwhile, Barberry Industrial Ltd has revealed plans for an £11m advanced manufacturing unit – Barberry 50 – spanning 50,750 sq ft. Both schemes will provide much-needed high-quality manufacturing accommodation in the area.
Rugby Gateway, a joint venture between Roxhill Developments and SEGRO plc, is the main development of note in Rugby – a 20-acre prime logistics site offering 1.8 million sq ft of logistics accommodation, which the likes of Amazon, H&M, Hermes and DHL call home.
Located immediately adjacent to Junction 1 of the M6 motorway at the heart of the distribution ‘golden triangle’, it provides direct access to the national motorway network with the M1 motorway less than three miles away.