Partner Article

National retailer commits to long term lease in Nottingham

CPP secures deal for 71,000 sq. ft warehouse on behalf of Mileway

Commercial Property Partners (CPP) has agreed a long-term lease on a 70,768 sq. ft. warehouse at Lilac Grove, Beeston in Nottinghamshire on behalf of Mileway, the largest owner and operator of last mile logistics properties in Europe.

The warehouse is to be used as an order-fulfilment centre for the household-name brand, supporting same-day delivery operations across the East Midlands.

The deal, which exchanged within two months of the previous tenant vacating, completed following a programme of comprehensive refurbishment works.

Stuart Waite, Director at CPP commented: “This deal highlights the continued growth in e-commerce and strong retailer appetite for well-located logistics facilities in key urban locations. Consumers are demanding ever faster delivery times and occupiers are having to review their logistics operations in order to meet this need, resulting in unprecedented demand for units of this size.

He added: “We are absolutely delighted to have concluded this deal on behalf of our long-standing client, Mileway. We were able to generate lots of interest and swiftly concluded the deal following a comprehensive refurbishment programme by the landlord.”

Situated west of Nottingham city centre, the property benefits from a large secure yard, seven ground level roller shutter doors, and high-quality office accommodation with plentiful parking.

James Chasen, Senior Asset Manager at Mileway, commented, “Demand for well-located large, self-contained, logistics units continue to soar across the Midlands, fuelled by consumer expectations of ever faster delivery, now measured in hours rather than days.

“Lilac Grove offers a prime location approximately 6 miles east of Junction 25 of the M1, accessed via the A52, which is also within close proximity. In addition, the new link road, directly opposite the property, now provides a faster connection to the A453, J24 of M1 and East Midlands Airport.”

Beeston is a popular suburb of Nottingham, with the Nottingham University main campus nearby.

CPP represented Mileway as sole agents with legal support from DWF. The refurbishment of the unit was managed by Helme & Partners.

This was posted in Bdaily's Members' News section by Isabella Storey .