Travis Perkins takes 490,000 sq ft from ProLogis

  ProLogis European Properties has signed a 17 year lease agreement with building and construction supplier, Travis Perkins, for 490,000 sq ft of distribution space at Brackmills DC1 in Northampton. The new lease will run from 1 November 2010.   The deal, which was off-market, comes during a squeeze in supply of warehouse buildings of comparable size and quality in the Midlands.   Simon Nelson, head of asset management for ProLogis, said: “This deal creates significant value for PEPR by securing occupancy of the building for 17 years at market rates.”    Martin Meech, Travis Perkins’ group property director, said: “Our procurement and logistics strategy is undergoing complete restructuring and this is all part of an evolving business.   “We are therefore pleased to have consolidated our presence in the Northampton area, where we have added 1,000,000 sq ft of new warehousing space in the last two years.”   The deal was completed on behalf of PEPR by ProLogis, manager of the PEPR portfolio. Chadwick McRae represented Travis Perkins.   james.buckley@estatesgazette.com   To access all EGi news stories and commercial property data sign up for a free trial today, or visit the subscription options page to find out more.