Goodman, a global leader in the ownership, development and management of industrial property has today announced the completion of the latest phase of development at its successful Lyons Park commercial development in Coventry.
Construction has completed on the development of Lyons 135, a 135,000sq ft state-of-the-art distribution and industrial unit which took six months to develop and is ready for immediate occupation.
The building, which was developed to the BREEAM Very Good specification includes 128,000sq ft of warehouse space and 7,000sq ft of offices. The specification includes 12.5m to haunch, 3 level access doors, 12 dock levellers, 135 car parking spaces, 19 trailer parking spaces together with 72m yard depth and an EPC “A” rating.
Goodman managing director Charles Crossland said: “Lyons Park is truly a stand-out location for logistics and following the popularity of Phase I we took the decision to invest in a further phase of development.
“We continue to see a significant lack of available high-quality distribution and industrial space throughout Coventry and the Midlands in spite of strong, undiminished levels of demand from occupiers either seeking to relocate or expand their operations.“
The completion and immediate availability of Lyons 135 marks a significant milestone in the development of Lyons Park which over the course of the last two years has seen the delivery and construction of 800,000sq ft of brand new floor space.
This includes the development of a giant new 470,000sq ft build to suit ecommerce distribution centre currently under construction for a global online retailer on the adjacent plot.
Also commenting, Charlie Spicer of joint letting agents Savills said “There is a shortage of Grade A logistics and manufacturing premises in the Coventry area and being immediately available, Lyons 135 is very well placed to enable local businesses to expand or upgrade their facilities. The success of the estate shows that Lyons Park is attractive for local, regional and national occupiers.”
The development of Lyons 135 was funded by Goodman Logistics Partnership (GUKP), an investment vehicle established in 2015 for all logistics assets developed and sourced by Goodman in the UK.
To date GUKP has completed in excess of one million sq ft of new warehouse and distribution space development in key strategic locations throughout the UK’s prime Midlands, South East and Greater London markets.
Lyons Park totals over 800,000sq ft of high quality industrial and distribution space and is ideally located on the western outskirts of Coventry, moments from the A45 trunk road linking Coventry and Birmingham. At the heart of the country, Lyons Park also enjoys easy access to the UK motorway network. The M42, M6 and M1 motorways form a golden distribution triangle placing 89% of England and Wales within four hours HGV drive.