3PL in warehouse expansion push

By Liza Helps Property Editor Logistics Matters

THE COMPANY has signed 10 year lease to occupy Delin Property’s XDock163 warehouse at Magna Park Lutterworth. The 163,423 ft2 cross dock warehouse is the first in a number of deals expected as part of a strategic move to acquire warehouse space in the next 12 months.

Lloyd Fraser Group Chief Executive Officer Anthony Finlayson-Green, said: “This investment is an exciting new chapter in the Lloyd Fraser success story. 

“We recognised that if we were to deliver best-in-class 3PL solutions to our customers it was vital that we acquire the right facilities in the right place."

“Since the takeover last year, the business has undergone significant change in order to build on the foundations and value of the Lloyd Fraser brand and use its stellar reputation, along with the expertise of our management team, as a catalyst to create change in the 3PL sector for the better.”

The new property has 12.5m eaves as well as 22 dock and three level access doors. It has the storage potential for 17,000 pallets, 360-degree circulation for heavy good vehicles and a low 40% site cover.

Delin Property head of portfolio management Duncan Jarvis, said: “We signed at an attractive rent with Lloyd Fraser utilising the existing racking and fit-out as a plug and play solution, limiting how long the property stood empty after the previous occupier vacated it in the first quarter of this year.”

Delin acquired the property as part of a portfolio of five prime logistics properties from InfraRed Capital Partners for £66 million in 2014. The property was originally let to DHL Supply chain on a lease expiring 2023. The building underwent refurbishment before being let to Lloyd Fraser Group. Rent for refurbished and second hand property at Magna Park Lutterworth is around £8.25 per ft2.

Lambert Smith Hampton and Carter Jonas advised.