Friday 21st Oct 2016 - Logistics Manager

Menlo secures Derbyshire warehouse

Menlo Worldwide Logistics has secured a 10 year lease on a warehouse at Junction 29 of the M1 motorway near Chesterfield in Derbyshire.

The 167, 274 sq ft facility known as The Core has 15 dock and two level access doors, a 12m eaves height and 50kn/sqm floor loading.

Fisher Hargreaves Proctor acted for landlord Royal London Mutual Insurance while Savills advised Menlo.

The past 18 months has seen Marks & Spencer take one millions sq ft at the East Midlands Distribution Centre at Castle Donington, Co-operative Group sign up to a purpose-built 477,000 sq ft distribution warehouse at Castlewood off Junction 28, and Asda take 100,000 sq ft just off Junction 26.

John Proctor of FHP said: “This is an important deal for the region and it continues a national trend which has seen a marked increase in the take up of good quality distribution units throughout the UK. This was one of the last units which was constructed speculatively in the region and it has been frustrating to see a unit of such good quality in such a strong location waiting for an occupier.

“The market is now changing, though. There is now only a limited supply of good quality new distribution space on the market and occupiers are having to plan their future needs much further ahead – which means new facilities will inevitably have to be built to order. Fortunately, we still have a good range of well-located distribution sites on the M1 motorway corridor within this region”.