Retailer B&M has agreed a deal with real estate asset management company Cain International for a 10-year lease on a 674,265ft² logistics facility in Ellesmere Port, Cheshire.
According to Cain International, this deal is ‘one of the largest lease agreements in the UK logistics market this year’.
The facility that B&M will occupy is known as Link 674 and, as well as a net zero carbon construction, features ‘energy-efficient designs, solar panels, rainwater harvesting systems and the use of recycled materials’.
A spokesperson for B&M Retail said: “Link 674 at Ellesmere Port provides us with increased capacity to support our continued store portfolio growth in the UK.
“This new facility will operate as an imports centre which will manage inbound container flow and optimise the capacity of B&M UK’s five existing distribution centres which are handling ever-growing volumes.”
B&M operates from 764 stores across the UK, plus 129 in France, located in both out-of-town retail parks and in towns and shopping centres.
Tim Brazier, senior vice president at Cain International, commented: “At Cain, our investment thesis is built on forming strong partnerships and developing high-quality spaces that support businesses aiming to establish or expand their presence.
“Securing B&M Retail as a tenant reinforces our belief in the strength and resilience of strategically located, thoughtfully designed assets tailored to meet the needs of innovative companies.”
Link 674 is managed by Firethorn Trust on behalf of Cain International. James Sanders, associate director for industrial and logistics at Firethorn Trust, added: “As asset managers, we’re committed to creating long-term value for our clients and their occupiers.
“Link Logistics Park is one of the largest and most prominent industrial sites in the North West, and the strong demand from top-tier tenants like B&M Retail is a testament to both the quality of the spaces we’ve developed, and the strength of our robust management strategies.”
B&M were represented by Savills and advised by Gordons LLP, while B8 Real Estate, CBRE and Moriarty & Co. acted for Cain and Firethorn Trust, with Simmons & Simmons providing legal advice.
