Goodman and Anglesea Logistics Partnerships have announced the pre-let of Angle 325, a 323,895ft² (30,090m²) high specification warehouse located at Derby Commercial Park, to No Ordinary Designer Label Limited, the group that owns the global lifestyle brand Ted Baker.
The state-of-the-art facility, which was developed speculatively, is currently being fitted out and due for completion at the beginning of May 2016. Once fully operational, it will serve as the new pan-European distribution centre for the retailer, handling all operations for its retail, wholesale and e-commerce businesses across Europe. The facility will operate 24/7 and provide sufficient capacity to support the brand’s long-term growth while creating 250 new jobs in the region.
Derby Commercial Park is a 165 acre strategic site located just east of the Derby city centre. To date, £175m (€222m) has been invested in developing the site, including a £20m (€25m) infrastructure programme that has improved access to and around the park.
The development of Angle 325 constitutes an investment of £25m (€31m) by Anglesea Logistics Partnerships in Derby Commercial Park and is the first of three speculative warehouses to be completed as part of a strategic partnership formed with Goodman in October 2015. Overall, the partnership will collectively provide over 900,000ft² (83,612m²) of prime logistics space throughout the UK.
Nick Sowerbutts of Anglesea Capital, funders and asset managers to Anglesea Logistics Partnerships, said “We are delighted to announce the letting to No Ordinary Designer Label and welcome the Ted Baker brand to Derby Commercial Park. This letting not only supports our decision to undertake a high quality speculative development in partnership with Goodman but also demonstrates Derby’s strength as a prime UK distribution location.”
Nigel Dolan, Goodman development director said: “Our decision to partner with Anglesea Capital in the development of this facility at Derby Commercial Park, one of our flagship UK developments, has been more than vindicated with the signing of this pre-let to Ted Baker ahead of completion.”
“This is another major brand to be located at Derby Commercial Park and follows the successful delivery of a new 632,000ft² (58,714m²) build-to-suit national distribution facility for Kuehne & Nagel and Heineken. Anglesea Capital and Goodman have a healthy pipeline of further development with two speculative warehouses currently at Andover and London Medway and look forward to making further positive announcements in due course.”
As part of the partnership, two further distribution warehouses of 336,700ft² (31,280m²) and 266,570ft² (24,756m²) respectively are being developed at Goodman’s sites at Andover Business Park in Hampshire and London Medway Commercial Park. Both facilities are expected to be completed and available for immediate occupation by the end of February 2016. Once completed, the three new developments will have a capital value of more than £100m (€127m).
