Landlords British Airways Pension Fund and Tritax Symmetry have secured a pre-let agreement with Warburtons, on a 15-year lease at Central M40 in Banbury.
The building, which will be Warburtons new distribution facility, is on schedule to be completed in June 2021. The facility will act as a new consolidation centre to collate manufactured products for distribution across the south of the UK, which will streamline their distribution network and reduce food delivery miles.
Development is underway on two new high-quality distribution warehouses, one of 199,000 sq ft, and the other of 145,000 sq ft. The warehouses, both built to net zero carbon throughout their construction, are due to complete in autumn 2021. They will benefit from 15m eaves in height, twin service yards, 50kN/2 floor loading, PV solar power and have a BREEAM “Very Good” rating. The buildings will be available for rent from practical completion.
The 70 acre site at M40 Junction 11 has consent for 1.28 million sq ft of logistics floorspace. The scheme is home to third party logistics provider, Great Bear Distribution (334,760 sq ft); TVS SCS (95,002 sq ft); Rinkit (78,117 sq ft); Hello Fresh (236,580 sq ft) and Prodrive (114,000 sq ft).
Burbage Realty, CBRE and Colliers are joint agents for BAPF and Tritax Symmetry.
Laura Sutton at JLL advised Warburtons.
Tritax Symmetry is the dedicated logistics developer of Tritax Big Box REIT plc (TBBR).