Furniture retailer Oak Furniture Land has taken IM Properties’ 302,000 sq ft distribution warehouse, known as DC2, on South Marston Park, Swindon a mere six months after Morrison’s quit the site.
The company took a 15 year lease on the facility at a rent believed to be close to the quoting rent of £5.50 per sq ft. It will use to consolidate from four other premises in Swindon. The move will enable the retailer to store and distribute its products under one roof while employing more than 200 members of staff.
The building also has expansion opportunities – where up to 150,000 sq ft of space can be developed, subject to planning, for the tenant in situ. It boasts an 11.5m clear internal height, 24 dock and six level access doors, 92 lorry parking bays and 213 car parking spaces and a 75m service yard. South Marston Park is located approximately five miles to the north of Junction 15 of the M4 motorway.
Oak Furniture Land Property Director, Steve Kettel said: “The DC2 unit will provide us with the opportunity to streamline our storage and distribution processes, bringing the majority of our operations under one roof and allowing us to service our customers more effectively.”
Cushman & Wakefield and Jones Lang LaSalle were joint letting agents acting on behalf of IM Properties. The deal was completed within just 3 weeks of the terms being agreed.
Gordon Reynolds of Cushman & Wakefield added: “There is a shortage of good quality distribution units across the UK and DC2, with its 75m yard was one of the best in the country. The speed of this letting clearly demonstrates the strong levels of demand for quality standing product in key locations.”