Following on from the announcement of securing planning consent, BentallGreenOak and Equation Properties have started on site with two new high quality industrial/distribution warehouses, comprising 153,323 sq ft and 56,360 sq ft and will be completed during Q4 2023. IFCO Systems UK Limited, has agreed a pre-let deal on the largest unit, as part of the company’s expansion plans.
The general contractor Winvic will deliver the scheme which will be constructed to BREEAM ‘Excellent’ and EPC A ratings. Primed for the needs and requirements of modern occupiers, the development has EV charging points and enhanced Biodiversity Net Gain credits.
The Industrial and Logistics team at CBRE in Leeds, alongside Avison Young advised BentallGreenOak and Equation Properties on the acquisition and subsequent pre-letting. The 10-acre site was bought from Homes England in 2022.
Rob Vaughan, Development Director at Equation Properties, said “We are thrilled to get this development underway with a pre-let to IFCO Systems UK. They are an expanding global business and are an essential part of the UK food supply chain requiring high-quality premises. This is yet another construction start across the BentallGreenOak and Equation Properties portfolio, demonstrating our joint commitment to developing in strategic locations despite challenges in the economy.”
Dirk Schaich, Director Supply Chain & Operations at IFCO Systems, said “With Equation and Winvic we have found an experienced project developer and construction partner who shares our commitment to sustainability, implements our high environmental and efficiency standards in building development and supports our ambitious time and growth plans.”
Danielle Raunjak, Associate Director at CBRE, said “We are delighted this site has commenced construction having advised on the acquisition. It will deliver high quality logistics space that will meet the needs of a vast range of occupiers looking to boost their business activities in Yorkshire and the rest of the UK. The pre-let of 153,000 sq ft to IFCO Systems UK Ltd is testament to the prime location and quality of the space to be delivered.”
TaylorWessing solicitors advised BentallGreenOak and Equation Properties on the pre-let to IFCO Systems UK.