db symmetry acting on behalf of Delancey's DV4 client fund, has secured Iceland Foods as the first tenant at Symmetry Park in Swindon. The deal represents the largest industrial/warehouse letting in the South West this year.
The retailer has agreed a new lease on the speculatively developed Unit 1 which extends to 221,173 sq ft (20,547 sq m) at a rent of £6.75 per sq ft plus a rent free period of 7.5 months. The new logistics warehouse will be in addition to Iceland’s existing occupation in Swindon. Unit 1 is the only speculatively developed warehouse over 150,000 sq ft (13,935sq m) in the region and is the first to complete on the park. Symmetry Park Swindon has planning consent for a further 1 million sq ft of Warehouse accommodation.
Christian Matthews, director at db symmetry, comments: “We are pleased to have secured Iceland as the first tenant at Symmetry Park Swindon. The letting backs up our commitment to build out a speculative unit and demonstrates the appetite for high quality warehouse space in the area.”
Simon Anderson property and acquisitions director at Iceland adds: “Unit 1 is in a strategic location and provides excellent Grade A warehouse space. The site complements our existing warehouse stock in the region and the letting is in line with our continued business expansion plans.”
Savills, Whitmarsh Lockhart and Colliers CRE acted on behalf of the fund.