Distribution firm Bunzl has struck a deal to take half of IM Properties’ 334,500 sq ft proposed speculative sheds at Birch Coppice Park in Warwickshire.
Bunzl is under offer to take circa 160,000 sq ft on a 15-year lease at a rent of around £5.50 per sq ft.
Bunzl is headquartered in London, but has operations across the East Midlands, around Leicestershire, with a national distribution centre at Telford Way Industrial Estate in Kettering.
IM Properties announced in May that it planned to carry out some of the largest speculative warehousing development for five years at Birch Coppice, by building two speculative sheds on site.
A warehouse of circa 174,500 sq ft will still be built speculatively.
Work on site began earlier this month and is due for completion in January 2014.
CBRE and Colliers are letting agents at Birch Coppice.
Lisa.pilkington@estatesgazette.com
