3PL group Amethyst has signed up for 210,000 sq ft near Warwick after a deal with Rui Nobre’s Griffen property empire.
Griffin UK Property Investments Limited has signed a 210,000 sq ft pre-let with Amethyst Group at its 59-acre distribution park in Wellesbourne, Warwickshire.
This significant pre-let demonstrates the ongoing demand for prime distribution and logistics assets in the UK, driven by the growing opportunity presented by the continuing growth of e-commerce in the UK.
Wellesbourne is situated off J15 on the M40 corridor.
The deal comes as Griffen, controlled by the South African property entrepreneur Nobre (pictured), completes a 132,000 sq ft speculative development unit at Wellesbourne. Negotiations are well advanced with a potential occupier.
Amethyst has agreed a 15-year lease with no breaks, at a rent of £6 a sq ft, with an initial one-year rent-free period. The lease will benefit from a year-five upward only rent review.
Griffen acquired the 585,000 sq ft Wellesbourne portfolio in February 2015, along with 20 acres of development land.
The new Amethyst unit will include 15M eaves, a 60knm slab, 50m yards, 24 loading doors (18 taildock, 6 level access, 4 of which are double-height), 165 car parking bays, and a 6% office ratio. The building will achieve a BREAAM 'Excellent' rating.
Building work will be completed late next year.