Michelin has signed a contract with LondonMetric Property to build a 137,000 sq ft distribution centre in Stoke.
The tyre manufacturer has signed a 15 year lease at a rent of £5.35 psf. According to LondonMetric, the anticipated yield on cost is 6.3 per cent.
Construction of the new facility is expected to complete by the end of this year.
Amazon at Omega
Amazon has moved into a 357,000 sq ft facility at Omega South, Warrington.
The speculative facility boasts a 333,286 sq ft warehouse with 17,136 sq ft of ancillary office. It has 53m yard depths, 15m eaves 40 dock and six level access doors as well as a 50kn/sqm floor loading. It also has 152 HGV parking bays and 231 car parking spaces.