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Construction begins on 2 spec warehouses

Construction begins on 2 spec warehouses

The developments by Griffen UK add 118,000 sq ft of speculative development at Wellesbourne Distribution Park in Warwickshire, representing the final stages of its 450,000 st ft development plan at the 59-acre Midlands logistics park.

The two units are 51,500 sq ft and 66,500 sq ft respectively, at its WDP40 site, at Wellesbourne, Warwickshire close to junction 15 of the M40 motorway.

Earlier this year Griffen agreed a 133,000 sq ft Grade-A warehouse letting at the park to a luxury British sports car manufacturer. This was followed by a pre-let deal with Amethyst Group for a 210,000 sq ft unit. The unit achieved practical completion in June and Amethyst has commenced with fit out works ahead of its planned occupation.

Tenants at Wellesbourne include Aston Martin Lagonda, Amethyst, CEVA Logistics, NFUM, Imperial, Jaguar Land Rover and Kathrein. 
Rui Nobre, chief executive at Griffen, said: “The rapid growth in e-commerce activity by major retailers and other businesses looks set to continue into the medium term, creating a supply demand tension for well-located good quality space of the type we specialise in.

At Griffen we have built a successful team across both investment and development disciplines, one that is well positioned to be a beneficiary of the changing landscape, and we look to the future with confidence.”
 

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