EXCLUSIVE: Iron Mountain secures additional Midlands warehouse as contract-led logistics operations hit purple patch
Iron Mountain is the occupier behind the letting of Tritax Big Box’s 391,000 ft2 warehouse at its 111-acre Symmetry Park Rugby scheme following a string of 3PL contract wins this year.
By Liza Helps, Property Editor, Logistics Matters
THE DATA management company, which ventured into third party logistics in 2021, has taken a 15 year lease on Unit 5, with open market rent reviews every five years at a rent of around £9.95 per ft2, it is thought to service a contract with Sainsbury’s. A general press release was issued regarding the deal last week as reported in Logistics Matters but no occupier name was announced at the time.
Iron Mountain has recently secured contracts to service retailer B&M as reported by Logistics Matters in July and Rolls Royce, for which it is doing a fit out on Unit 2 according to planning submissions.
On its own website Iron Mountain boasts 15 units in the UK: two in Ireland, 11 in the Midlands, one in London, one in the Northwest. In amongst available warehousing space as well as securing the 966,603 ft2 first phase of Tritax’s Symmetry Park Rugby in Units 1,2,3 and 4, it mentions Symmetry Park Rugby 5, with a photograph of Unit 5, which its marks as ‘coming soon…’
The total amount of space including the new facility at Rugby now pushes 3 million ft2 in the UK with approaching 500,000 pallet spaces.
In its annual report and financial statement for the year ending 31 December 2024 Iron Mountain UK wrote: “Fit out of the Rugby campus located on Symmetry Park continues, with state of the art facilities and automation now partially operational in the testing and commissioning stage.
“This will enable us to centralize our UK operations, whilst supporting future growth aspirations across all business lines. The Rugby campus compliments Lutterworth’s Magna Park facilities with both campuses providing best in class operations in addition to contributing to ongoing ESG efforts. All units are built with solar panels, LED lighting and electric vehicle charging points and also achieved an “excellent” BREEAM rating standard.
“Bringing all business lines into one park will create career progression for our employees and a best in class environment.”
All parties were asked to comment. Tritax Big Box replied with no comment and Logistics Matters is still awaiting from Iron Mountain.
Letting agents at Symmetry Park Rugby are Collier and ILP Partners.
