Developer Prologis has agreed a lease with Toolstation for a 493,098 sq ft warehousing facility at Prologis Park Pineham, Northamptonshire, as the retailer expands its branch network.
The trade and DIY retailer, which is part of the Travis Perkins Group, will take a 15-year lease on a new logistics building at the park. It will move in once construction and fit-out completes in July next year.
Toolstation has more than 500 UK locations and is aiming to open 60 new branches each year.
The prelet means Prologis Park Pineham is now fully let. The tenant line-up includes BMW, Sainsbury’s and Morrisons.
Prologis said the new building will reflect the company’s ambitious targets around sustainability and carbon reduction, with added features such as solar PV on the roof and a target BREEAM ‘Excellent’ rating.
James Straw, capital deployment and leasing associate at Prologis UK, said: “This is the last plot at Prologis Park Pineham, so we will have completed the park when this building is finished – it’s great to see Toolstation secure the last space in a location which will allow its growth trajectory to continue.”
Richard Lavin, property director for Toolstation, said: “The opening of this new warehousing facility will support our growth plans and enable Toolstation to continue to add to our 500-strong branch network, and to help us meet the needs of our customers – both digital and in branch – more effectively.”
Elsewhere in Northamptonshire, Prologis has launched a bespoke warehousing and logistics training programme. This is aimed at those leaving education, the disadvantaged, unemployed and those looking to re-skill in the local area.
The training course is fully funded by Prologis and aims to equip trainees with the skills, knowledge, and competencies to forge a career in logistics.
Knight Frank advised Toolstation and Burbage, CBRE, and Cushman & Wakefield acted for Prologis.
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