DB Symmetry is to speculatively build a new 217,000 sq ft logistics unit, in Swindon as the town’s warehouse rents surge by 20 per cent.
The 100-acre Symmetry Park is next to the A420 dual carriageway, just south of Honda and four miles north of the M4. The Park has planning consent for 1.3m sq ft of B8 use space.
Christian Matthews, Development Director at DB Symmetry said: “With planning now secured, we are looking to start on site in May with practical completion due in December.”
Rob Cleeves of Savills commented: “Large-scale logistics buildings in excess of 100,000 sq ft are a key part of the Swindon market and have accounted for 35% of take up over the last five years. 2016 was a record year with four deals over 200,000 sq ft.”
The 2017 Industrial and Logistic rents map from Colliers International showed that Swindon experienced the biggest surge in rents for large warehouses in the last year with prices rising by 20 per cent.
The Swindon scheme is the latest in a series of speculative starts for the logistics development including schemes in Blyth, Middlewich, Banbury and Bicester. According to Savills latest UK warehouse survey, this figure equates to 21% of the total 3.8million sq ft set to be delivered this year.