Global membership warehouse club, Costco has bought the remaining 64 acres at Gazeley’s G.Park Crick site in the East Midlands for an undisclosed sum.
The company has applied for planning permission for a 585,000 sq ft European Distribution Campus catering for the growth of the wholesalers logistics requirements now and in future phases.
As part of the deal Gazeley will regain control of Costco’s existing distribution centre, also built by Gazeley in 2000, at Magna Park Lutterworth.
Commenting on the deal Bruce Topley, Senior Development Director, Gazeley, said: “As a long standing partner of Costco’s we are absolutely delighted to sign this ground breaking deal today at G.Park Crick for the full 64 acres to be able to cater for the development of Costco’s future logistics requirements. This transaction is once again evidence of the continued success of our investment in one of the UK’s most important strategic development sites having already delivered a 260,000 sq ft bespoke manufacturing plant and headquarters for rapidly expanding pet food retailer Butchers Pet Care in 2010.”
Nick Deeks Director of International Real Estate from Costco also said “Sitting in a superb strategic location adjacent to the M1 at Junction 18 G.Park Crick is the ideal solution for our forward operating logistics requirements. By taking the full 64 acres we are able to satisfy both our short term requirements for space now together with our ability to also safeguard our future requirements all in the same central location.
Gazeley bought the 94 acre site in 2008 for £37m and secured a deal with Butcher’s Pet Care for a new warehouse and headquarters in 2010. Marketing agents were CBRE and Dowley Turner Real Estate.