Tritax Symmetry, the dedicated logistics development company for Tritax Big Box REIT plc, has committed to speculatively build a 132,750 sq ft logistics building on the last remaining plot at Symmetry Park.
The news follows a major deal with B&Q which is taking a 430,240 sq ft warehouse and distribution facility that is already well under construction. It also responds to the rapidly growing on-demand logistics market due to digitalisation and consumer delivery expectations.
Located at Junction 34 of the A1 (M) on the North Nottinghamshire/South Yorkshire border, Symmetry Park is a £70 million industrial and distribution scheme being delivered by Tritax Symmetry. The logistics developer has committed to deliver up to 721,000 sq ft of logistics space on the regionally significant site.
In 2020, Tritax Symmetry agreed a deal to let its first speculative 151,388 sq ft logistics building on the site to Dogmates Ltd trading as Butternut Box. The fast-growing brand has made a significant investment into the fit out and created hundreds of new jobs for the area. Roadside retail property business Euro-Garages also expanded its options with the purchase of a 1.2-acre plot standing alongside its existing Starbucks and KFC outlets at Symmetry Park.
Simon Dixon, development director at Tritax Symmetry, said: “We are pleased to commit to the speculative delivery of the last remaining plot at Symmetry Park. We have identified strong ongoing occupier interest in the region and our deals with B&Q, Butternut Box and Euro Garages are testament to the site location right off the A1 (M) and directly opposite Blyth Services, with high visibility and great accessibility from both sides.
“Having a site with infrastructure already enabled and detailed planning consent in place allows us to react quickly to market demand with a premium, bespoke and highly sustainable new premises in this prime logistics location.”
The Leeds offices of Savills, Dove Haigh Phillips and Colliers International are representing the development.
Simon Dove, partner at Dove Haigh Phillips, said: “This commitment from Tritax Symmetry to speculatively deliver the third and final unit, offering over 132,000 sq ft is testament to a very strong occupier market. In particular for this location which has become a hot bed for industrial and distribution businesses, not least because of its direct access to the motorway.
“The new unit will have over 250 metres direct frontage to the A1(M), giving major brand prominence for any occupier, with a market leading specification and full infrastructure already in place.”
