Property developer GLP has today announced that it has leased multiple warehouses at Magna Park Lutterworth to ‘top-tier customers’, along with commencing speculative development on four units at Magna Park South Lutterworth.
Magna Park Lutterworth is the UK and Europe’s largest dedicated logistics and distribution park, situated within the Midlands’ ‘Golden Triangle’ of logistics, and home to 36 different customers and occupying over 11 million ft2 of sustainable floor space across 41 buildings, Magna Park Lutterworth is GLP’s flagship distribution park.
Bleckmann has leased the first of the three speculative developments in Magna Park North (MPN1) taking a 200,102ft2 building on a long-term lease. The warehouse will be used to service Bleckmann’s increasing number of contracts and will be the company’s second unit leased at Magna Park Lutterworth, after it acquired Tornado-186 18 months ago.
Iron Mountain, an information management services company, has signed an agreement to lease MPN3, the third spec building under construction, totalling 297,194ft2. MPN3 is expected to be completed by the end of March 2022.
LX Pantos has taken a building on a built to suit basis – MPN4, totalling 310,000ft2, which is expected to complete by July 2022. LX Pantos is upsizing from an existing facility and plans to use the warehouse to service LG Electronics, amongst other top brands.
In a separate development, GLP has completed the letting of Hurricane-258, a 258,000ft2 cross-docked distribution unit located within the Magna Park Central Lutterworth development, to Rhenus Home Delivery. Rhenus is set to operate the unit as a two-man lift operation in response to the further growth of their home delivery business.