Logicor leases UK’s largest new build industrial unit

Logicor has leased the UK’s largest available new industrial unit, The Big 555 in Sherburn-In-Elmet, Yorkshire, to Legal and General Homes Limited.

L&G Homes has signed a 10 year lease for the 555,000 sq ft unit, which was created by joining together two smaller units to offer a unique opportunity to the UK property market as the only new build logistics warehouse larger than 500,000 sq ft.

The joint agency team of CBRE, DTRE and Moriarty and Co advised Logicor.  L&G Homes were unrepresented

The Big 555 provides a circa 555,000 sq ft warehouse with 14,607 sq ft of offices and 348 car and 119 HGV parking spaces within the established Sherburn Distribution Park. The Park is strategically located off Junction 42 of the A1(M) and only 14 miles from Leeds. The ports of Hull, Grimsby and Immingham are all within one hour HGV drive time. Existing high-profile tenants at Sherburn Distribution Park include Sainsbury’s, Debenhams, Eddie Stobart, EDM and Optare.

Charlie Howard, Managing Director, Logicor UK said: “We are very pleased to lease this building to L&G Homes. The Big 555 is the UK’s largest readily available logistics warehouse, located in Sherburn Distribution Park which provides strategic access to the whole of the North of England.”

Mike Baugh, Senior Director of Industrial Agency at CBRE Leeds, said;

“As the only half million sq ft unit available for immediate occupation anywhere in the UK, The Big 555 attracted high levels of interest from distribution companies, UK retailers and 3PLs. The bold decision to combine the 330,000 sq ft and 190,000 sq ft units in response to market demand has resulted in a fantastic deal for all parties and a very positive and significant outcome for the regional industrial market.”

Logicor’s UK warehouse portfolio totals 21,500,000 sq ft (2 million sq m) across 70 buildings.