EXCLUSIVE: Wayfair looking to sublet million ft2 Magna Park Lutterworth DC
Online furniture retailer Wayfair UK is looking to sub-let part or possibly all of its one million ft2 plus distribution centre at Magna Park Lutterworth in the East Midlands.
By Liza Helps, Property Editor, Logistics Matters
THE NEWS comes as its annual report notes that Wayfair UK has reduced its employee headcount by more than half in the last two years as sales struggle.
The UK arm of the US online homeware and furniture retailer employed 405 staff at the close of 2024, down from 847 in 2022. The workforce reduction coincided with a sharp drop in Wayfair’s UK sales over the same timeframe, falling from £83.4 million in 2022 to £59.4 million in 2024.
The company is not openly marketing its Magna Park facility, but it is reported that property agents have been retained to secure a sub-let and viewings have taken place.
In its annual report Wayfair UK, which provides sales and marketing, and fulfilment services to its fellow group company, Wayfair Stores Limited – incorporated in Ireland – noted that its strategy ‘is to continue to maintain its warehouse and fulfilment services operations in the UK to drive Wayfair Stores Limited’s European growth’.
Wayfair secured a pre-let on the 1.068 million ft2 facility in 2019 as its national distribution centre. The property has a 1,037,856 ft2 warehouse with 20m eaves served by 173 dock and 12 level access doors on three sides, as well as a 20,000 ft2 of offices across three floors. It is thought rent of the facility is in the region of £9,172,000 a year equating to some £8.58 per ft2. It is thought a five year rent review was carried out in 2024.
Logistics Matters has contacted Wayfair UK for comment.
