Legal & General secures planning for ca. 1 million ft² industrial development at Corby (UK)

Legal & General Property ('LGP'), on behalf of its Industrial Property Investment Fund ('IPIF'), has been granted planning permission for a circa 900,000-ft² (approx. 84,000-m²) rail-connected cross-docked distribution warehouse at its 70-acre former Gefco UK Car Storage site on Geddington Road in Corby.

The scheme, known as 'Cor!!', will comprise a single warehouse unit of 880,754 ft², up to a height of 28 meters. It is anticipated that the cross docked warehouse will incorporate approximately 40,000 ft² of office space as well as providing lorry and car parking, landscaping and supporting infrastructure.

LGP, along with its development partner, Roxhill Developments, who are specialists in developing land for strategic warehouse and distribution, anticipate good occupational demand for the warehouse, which, situated in the center of Corby, will be linked via the Midland Mainline to the Port of Felixstowe and Birmingham.

Boasting its own rail head which is already in situ, offering the opportunity of easy, as well as green transportation to the rest of the UK and Europe, it is also situated within the 'golden triangle' of the M69, M1 and M6 motorways, putting around 89% of England and Wales within four hours' truck drive.

Corby is currently undergoing significant regeneration with many large distribution companies taking advantage of the 100,000 strong, predominantly blue collar, workforce.

Commenting, Jonathan Holland Senior Fund Manager at Legal & General Property, said: "We are extremely pleased to have secured planning consent for this strategically important distribution warehouse location. There are very few competing sites which benefit from the scale, flexibility and connectivity of this site, with the added benefit of having a rail head in situ which connects it to the Port of Felixstowe.

"Now that we have consent, we will be able to take forward discussions with a number of interested parties."

Burbage Realty, CBRE and King Sturge, have been appointed to market the scheme.

Source: FTI Consulting

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