Home retailer takes 1 million sq ft warehouse at Magna Park Lutterworth
US-based online Home retailer Wayfair is tipped to be the mystery tenant for the 1.064 million sq ft build to suit warehouse that Gazeley is currently constructing at its flagship Magna Park scheme in Leicestershire.
The new facility, known at present as Unit G Argosy Way, is expected to serve as Wayfair’s main distribution hub in the UK. The facility, which is currently under construction, will have a 1,037,856 sq ft warehouse served by 173 dock level and 12 level access doors on three sides, as well as a 20,000 sq ft of offices across three floors.
Wayfair already has two facilities at Magna Park. The former Costco cross-dock unit, totalling 258,503 sq ft which was its first acquisition in the UK in 2016. The unit had been heavily refurbished to provide a facility with 131 dock level loading doors, 185 car parking spaces, and 163 HGV parking spaces. BNP Paribas advised Wayfair while Colliers and Strutt & Parker acted for Gazeley at the time. It has also recently acquired Tornado 186 nearby. Wayfair, which has its headquarters in Boston, Massachusetts, sells home essentials such as lighting, furniture and other homeware items. It grossed $6.2 billion in net revenue for the 12 months to September 30 2018.
JLL has been advising Wayfair.