UK interiors business, The Cotswold Company, has secured Leeds-based property investor and developer Evans Property Group’s speculatively built 139,202ft2 warehouse at Fradley Park in Lichfield, East Midlands.
The online retailer has secured a 10-year lease on the Axis 38 unit in advance of its practical completion this month.
Axis 38 was constructed by GMI and incorporates 8,900ft2 of fitted offices, a glazed entrance and provision for 33 parking spaces within a secure fenced yard.
The Cotswold Company is expanding its operational facilities to meet its growing customer demand. This has been driven by the shift into digital retail and the continuing move to consumers spending more time in their homes.
“Although we have always stayed focussed on making promises we can keep, we have not been immune to the supply chain issues many retailers have faced in the last two years,” said Alan Joseph, Operations Director for The Cotswold Company. “By expanding our inventory levels we can ensure we deliver for our customers as quickly as possible. This new state-of-the-art facility provides the perfect platform for our continued expansion and operating as much of our logistics in-house as possible allows us to maintain the high standards our customers expect. ”
The expansion will provide the opportunity for The Cotswold Company to create at least 50 new jobs this year across its distribution operations and it is aiming to be up and running at its new Fradley Park distribution centre by July 2022 to see it through the second half of the year.
“The speed of the take-up demonstrates the current demand for ready-to-go industrial and warehousing accommodation of this size and caliber within Lichfield,” added Richard Bean, Portfolio Director for Evans Property Group.
Avison Young acted on behalf of the landlord in the transaction and SBH represented the tenant.