On behalf of Urban Logistics Reit Plc, FHP Property Consultants in conjunction with joint agents M1 Agency have successfully let their speculatively built 81,000 sq ft unit on Blenheim Industrial Estate at Junction 26 of the M1.
One of four units built on the site, the 81,000 sq ft prime distribution unit has been let to Cotton On Group, Australia’s largest online retailer. This deal complements the previous letting of a speculatively constructed 18,000 sq ft unit on the estate.
The letting was completed by Tim Gilbertson and Chris Proctor of FHP Property Consultants who commented:
“A great result for all parties involved here and a pleasure to act on behalf of Urban Logistics. They took the sensible option of developing out the final four plots on the established Blenheim Industrial Estate speculatively to provide prime manufacturing/distribution space in a wonderful location just off Junction 26 of the M1 motorway.
Their positive and sensible approach has yielded terrific results and we are delighted to announce the first two lettings on the estate, the larger of which saw 81,000 sq ft let to Cotton On Group.
We wish the new occupiers well in this pristine Grade A building.
We would also like to thank their agent, Toby Smith of Harper Dennis Hobbs for helping seal this transaction.”
John Barker, Head of Development at Urban Logistics Reit Plc said:
“The funding venture with Wilson Bowden Developments has worked well and they have completed the buildings to a high standard. The East Midlands element of the portfolio was recently completed so early lettings to Cotton On and All Shires Foods is testament to the tenant demand in the market and that we’ve let two of the four Nottingham units so quickly after practical completion, with further interest in the remaining two, is satisfying.”
Olivia Salisbury, Asset Manager at Urban Logistics Reit Plc added:
“We’re pleased to welcome Cotton On and All Shires to the ULR portfolio and look forward to working with them going forward.”