Gazeley is planning to develop speculatively a 30,657 sq m (330,000 sq ft) warehouse at its new development site in Worksop, Nottinghamshire.
The 6.47ha (16 acre) site was bought from Nestle Purina last year. The purchase is subject to a lease back agreement to enable pet care company Nestlé Purina to complete the necessary decommissioning works; it is anticipated that these works will be completed by July 2006 following which vacant possession will be granted.
The site will be branded G.Park Worksop, and is located on the A57 equidistant from the M1 (junction 31) and A1 motorways. The Worksop area has recently attracted many large logistics occupiers including B&Q, Wilkinsons and Tesco.
Subject to planning consent, Gazeley intends to commence development of the new warehouse unit immediately after vacant possession has been attained.
G.Park Worksop will incorporate EcoTemplate initiatives, Gazeley’s award winning eco-effective development model. Nick Cook of Gazeley said: “This latest acquisition strengthens Gazeley’s position in the North of England and offers our customers another opportunity to locate in an area with the benefits of economic rental levels and a significant labour resource.”
Nestlé Purina was represented by Colliers CRE, while C2G acted for Gazeley in the acquisition. Gazeley has appointed C2G and Colliers CRE as joint letting agents for G.Park Worksop. Quoting rents are expected to be in the region of £59.20 per sq m (£4.75 per sq ft).