In one of the biggest industrial deals in the South West this year, the Co-operative Estates has completed a letting of The Co-operative Group’s former Regional Distribution Centre at Chelston Business Park Wellington, Somerset.
The property – which was constructed in 1991 and extends to 178,000 sq ft on a site totalling 11 acres – closed in January this year as part of the comprehensive modernisation and rationalisation of The Co-operative Group’s national distribution network.
The property has been let to Rigid Containers Ltd who have taken a 10 year lease.
Geoff Player, Director of Commercial & Investment Property, said: ”We are delighted to have completed another major letting in the South West following on so soon after the letting of the former Bridgwater Regional Distribution Centre last year.
“Our UK warehouses marketing campaign is gathering very positive momentum. We have concluded 430,000 sq ft of industrial lettings in the South West alone in the last nine months and currently have other transactions agreed.”
Richard Coward, Managing Director of Rigid Containers, said: “The new site will be a multi-million pound investment entirely funded by the Group. The distribution hub will create between 30 and 40 new jobs for the area immediately and is seen as a positive move by the local council. As the hub then transforms into a manufacturing plant by the middle of the summer, it is expected that dozens of new jobs will also be created.
“At a time when the nation is struggling with poor levels of growth and investment, it is refreshing to have some good news. We are really optimistic about this new site in Wellington – not just for the benefit of our customers, but also for the local community. New jobs and local investment are critical for the nation at large and we are pleased to be playing our part in helping the overall recovery process for the economy.”
GVA and Colliers advised The Co-operative Estates, Parsons Estate Consultancy advised Rigid Containers .