Budget retailer 99p Stores has secured ProLogis’ DC372 warehouse at ProLogis Park Pineham in Northamptonshire, as its new headquarters and national distribution centre.
The 372,572 sq ft property will help the retailer to carry out its ambitious expansion plans to grow its portfolio to more than 350 stores in the next four years.
The new £3 million distribution centre is expected to be up and running by early summer this year. It will have capacity to store more than 40 million 99p products, from cosmetics to food.
The building has 32 dock and four level access doors, a 12.5m eaves height as well as 87 trailer and 280 car parking spaces. It has two-storey offices totalling some 14,726 sq ft. Chief executive Nadir Lalani said the expansion to 350 stores was the firm’s short-term plan, and it hoped to add another distribution centre in the North of England within four years to build the chain to over 600 stores.
Letting agents are Burbage Realty and Readings Hope & Mann, while Proteus Properties advised 99p Stores.
ProLogis has also signed a lease agreement for a 69,000 sq ft warehouse at ProLogis Park Heathrow.