Tritax Big Box REIT has received planning permission for a new 661,000 sq ft distribution centre at Symmetry Park in Biggleswade, Bedfordshire, which has been prelet to the Co-op Food Group.
This marks the first prelet development made by Tritax Big Box’s logistics business, db symmetry (DBS), which it acquired for its land portfolio in February 2019.
Contracts were exchanged in November last year for Co-op to take up a 20-year lease at the building, which is earmarked for completion in early 2021.
The agreement follows Co-op’s aim to expand its presence in London, the South and the South East.
Colin Godfrey, partner of Tritax, said: “The property, which will benefit from significant capital investment in the fit-out, will create a wide range of jobs locally and play an important role in the Co-op Food Group’s UK supply chain, as it expands further into London and the South East.
“Strategically positioned in an increasingly important logistics location with excellent transport infrastructure and a strong labour supply, we look forward to delivering this high-quality prelet development asset for an existing customer of Tritax Big Box.”
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