Planning has been gained for four big speculative units totalling 1.4 million sq ft at Magna Park in Lutterworth. The four sheds – three in Magna Park South and one in Magna Park North – are expected to up by the end of next spring. Magna Park developer GLP – the rebranded Gazeley – said demand for new units reflected the success of Europe’s biggest dedicated logistics park. The size of the new warehouses will range from 119,000 sq ft to 761,000 sq ft.
In a statement GLP said: “Each unit will be net-zero in construction and independently certified by the Planet Mark. GLP will also be supporting customers to reduce energy and operational costs, by providing a complimentary Planet Mark program to help monitor, track and reduce their respective carbon footprint.”
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GLP is currently building a 200-acre country park at the Lutterworth site, providing space for tenants and the wider community.
It said Magna Park Lutterworth currently has only one building available to lease, measuring almost 190,000 sq ft, with two build-to-suit plots available for development covering 411,000 sq ft and 840,000 sq ft.
The park, which now has 47 buildings covering more than 13 million sq ft, has recently welcomed tenants such as Bleckmann, Iron Mountain, LX Pantos and Unipart.
Joe Garwood, senior development director at GLP, said: “We are extremely pleased to announce such a significant level of speculative build across our flagship UK logistics park.
“This is a testament to our confidence in the resilience of the UK logistics market and the strategic importance of the Midlands in particular.
“We have seen huge success with our speculative development programme at Lutterworth to date, attracting a wide range of top-tier customers, and we’re confident that we will see strong demand for this new space.
“Once finalised and occupied, the four units will generate hundreds of employment opportunities and contribute towards the economic growth and commercial upskilling of the Midlands region.”
Last year, GLP partnered with North Warwickshire and South Leicestershire College, and Wincanton to create a new Centre for Logistics, Education and Research at Magna Park.
