BL Rosemound, a limited partnership between The British Land Company PLC and Rosemound Developments have secured a pre-letting to EXCEL Logistics for a 300,000 sq. ft. distribution warehouse facility at its Daventry International Rail Freight Terminal (DIRFT) site at Junction 18 of the M1. EXCEL will pay a base rent of £5 psf for a shell specification.
DIRFT is already well established as one of the UK’s leading distribution locations with current occupiers including Tesco, Royal Mail, and Eddie Stobart Ltd.
The joint venture acquired 74 acres at DIRFT East and Central from Severn Trent Property in March 2004. The site has planning consent for up to 123,500 sq. metres
(1.33 million sq. ft.) of distribution warehouse accommodation.
The main contractor has been appointed and construction will commence immediately with a target completion for hand over in April 2005.
Nigel Webb, Head of Developments at British Land, commented:
“We are very pleased to have secured our first pre-letting so soon after acquiring the site. Occupier interest in the rest of the site is also very positive. DIRFT is able to offer occupiers units of up to 850,000 sq. ft. to meet the current requirement for large, well
Source: The British Land Company