Costco has completed a deal to buy 64 acres from Gazeley at G.Park Crick in Northampton for around £35m to develop a 565,000 sq ft mega shed.
The site has permission for up to 1.1m sq ft of sheds, which Costco will potentially develop on in the future.
The deal means Gazeley will regain control of Costco’s 155,000 sq ft shed at Magna Park Lutterworth, which was built by Gazeley in 2000.
Costco director of international real estate Nick Deeks said: “By taking the full 64 acres we are able to satisfy both our short term requirements for space now together with our ability to also safeguard our future requirements all in the same central location.”
Gazeley senior development director Bruce Topley added: “This transaction is once again evidence of the continued success of our investment in one of the UK’s most important strategic development sites having already delivered a 260,000 sq ft bespoke manufacturing plant and headquarters for rapidly expanding pet food retailer Butchers Pet Care in 2010.”
nick.whitten@estatesgazette.com
