Baker Warburtons has taken an 83,750 sq ft pre-let at British Airways Pension Fund (BAPF) and Tritax Symmetry’s 1.3 million sq ft Central M40 scheme in Banbury.
The deal has been done on the back of a 15-year lease and is scheduled for completion in June next year.
A spokesperson from Warburtons: “This high-quality facility will act as a new consolidation centre to collate our manufactured products for distribution across the South of the UK, which will streamline our distribution network and reduce food delivery miles. Unit 9 plays an integral role in supporting our growth aspirations in the region. We are investing heavily in our new building and, in doing so, will become a significant contributor to the local economy.”
The deal coincides with the start of construction of two new speculatively built logistics facilities of 198,750 sq ft and 144,800 sq ft, which are on track to complete in Q3 2021.
Both buildings will be built to net zero carbon in construction and benefit from 15m eaves in height, twin service yards, 50kN/2 floor loading, PV solar power and have a BREEAM “Very Good”. The buildings will be available for rent from practical completion.
Speaking about progress on site, Joseph Skinner of Tritax Symmetry, said: “The decision to speculatively build the next phase of development at CM40 was a relatively simple one to make. The pre-let to Warburtons, recent letting to Great Bear Distribution [coupled with] the high volume of requirements we are seeing, demonstrates the scheme’s strength of offer.”
Burbage Realty, CBRE and Colliers are joint agents for BAPF and Tritax Symmetry. JLL advised Warburtons.
