Curry’s secures and expands Newark distribution centre operations
Developer investor Tritax Big Box has confirmed a circa.400,000 ft2 new warehouse letting to Curry’s and has announced that it is extending the lease on the existing Curry’s Distribution centre to 20 years.
By Liza Helps, Property Editor, Logistics Matters
ELECTRICAL RETAILER Curry’s has taken a new 20-year lease on the recently completed 397,283 ft2 speculative unit at Tritax Big Box’s Tritax Park Newark scheme while at the same time extending the lease on its existing 725,799 ft2 DC by 10 years giving a total remaining lease of 20 years.
Currys Chief Operating Officer Lindsay Haselhurst said: “Newark is the centre of our UK supply chain operations, supporting over £5 billion of annual sales, and houses one of Europe’s largest technology repair centres. Extending our operations at Tritax Park Newark will enable continued growth of our omnichannel model and support further market share gains. We are pleased to strengthen our relationship with Tritax Big Box with these agreements and as one of the largest employers in the area, we are proud to extend our commitment to local economic growth and employment opportunities.”
Together, the leases secure £9.5 million of annual rental income (before rent reviews) for Tritax Big Box for 20 years over a combined total footprint of 1.2 million sq ft. The lettings also demonstrate the Company’s ability to provide existing clients with incremental high-quality logistics space through its development capabilities.
The 397,283 ft2 speculative unit was delivered in partnership with Simons Developments and constructed to BREEAM Excellent and EPC A standard. It has a 557KWp of roof mounted solar array and boasts a 376,694 ft2 warehoues with 15m eaves and 38 dock and four level access doors serviced by a yard rnaging from 50 – 85m in depth. It has 15,619 ft2 of three stroey Grade A office space, a 4,708 ft2 hub office and a 262 ft2 gatehouse. It has a 2 MvA power supply.
Tritax Big Box and Simons Developments are also bringing forward plans for up to 970,000 ft2 of design and build opportunities at Tritax Park Newark, as well as a 40-acre country park to provide green space for local employees and the general public.
Joint letting agents are Apex Real Estate Advisors, Colliers and JLL.
