Following the news that two of the units on GLP’s Magna Park South site, including the 745,000 sq ft mega shed are under offer, the company has submitted plans a further 1 million sq ft plus of speculative development on its Magna Park North site.
The new development will consist of three units of 200,102 sq ft, 297,194 sq ft and 503,216 sq ft.
Magna Park Lutterworth, the developers flagship scheme, consists of three zones: Magna Park South totalling 220-acres which it acquired from Tritax Symmetry in 2019, Magna Park North totalling 225-acres. The original land holding at Magna Park Lutterworth now accommodates some 9 million sq ft of warehousing space.
The two additional sites will bring the total amount of space on the scheme to more than 16 million sq ft once built-out.
A reserved matters application was submitted last week for the three units with construction planned to start later this year.
Joint agents are DTRE and Burbage Realty.
In January this year GLP, announced that it would start a 1 million sq ft speculative warehouse programme on seven units, across four sites in Bedfordshire, Northamptonshire and Milton Keynes, following the grant of planning permission.
The development programme followed the practical completion of 1.25 million sq ft.