Great Bear Distribution snaps up M40 warehouse
Culina Group division Great Bear Distribution has taken Tritax Symmetry and British Airways Pension Fund’s speculatively developed 334,760 sq ft logistics facility at Central M40 in Banbury.
The 3PL has agreed a 15-year lease and will be taking immediate occupation of the building, which is prominently located on the M40. Constructed by A&H, the high-quality unit incorporates a series of features including 10,000 sq ft office space, 15m clear internal height, 30 dock levellers, four level access doors and 50m yard depth within a secure gated and fenced area.
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Speaking about the letting, Joseph Skinner, associate development director at Tritax Symmetry, commented: “The speculative development and subsequent letting of every phase of CM40 to high-calibre organisations underlines the quality of both the product and the location. From entering legals, we were able to complete within a four-week period, which is testament to all parties involved.
“Planning is in place for a further 198,750 sq ft to allow us to respond to future occupier requirements.
CM40 is already home to a number of high-profile tenants including TVS SCS (95,000 sq ft); Rinkit (78,117 sq ft); Hello Fresh (236,580 sq ft) and Prodrive (114,000 sq ft).
The deal follows hot on the heels of the pre letting to DPD Logistics at Symmetry Park, Bicester in May and provides further evidence of the strength and attraction of the M40 corridor for logistics.
Burbage Realty, CBRE and Colliers represented Tritax Symmetry and BAPF.