Wakefield site to welcome “major online retailer” as property firm completes trio of lettings

AEW UK Investment Management LLP (AEW) has announced it has agreed a five-year lease with a ‘major’ online retailer for its West Yorkshire development.

The firm has agreed the letting at its 512,500 sq ft logistics warehouse development located near Wakefield.

Located between the M62 and A1 and near the M1, the Wakefield 515 development will comprise over 80 dock level doors and parking spaces for over 229 HGVs, as well as a rainwater harvesting system and 15 per cent roof lights.

The unit is currently under construction, with its completion expected next month, and will mark the company’s third letting

Spencer Corkin, director of acquisitions at AEW ,commented: “We are pleased to announce the third letting for our logistics venture with Allianz Real Estate. The demand for Grade-A warehousing remains strong, particularly in West Yorkshire, where supply at the larger end is limited.

“We now have a fully occupied portfolio of Grade A logistics facilities and will look to expand our footprint by continuing to do speculative developments of Big Boxes in well-established but under supplied locations across the UK.”

Charlie Royle, executive director of asset management at AEW, added: “The development of Wakefield 515 is being completed to the highest standards and specifications and is on schedule and on budget.

“We are very pleased to have agreed a pre-let with another exemplary occupier in the logistics sector and look forward to completion of the development and to welcoming them to Wakefield 515.”