Central Park, a new 640-acre warehouse and distribution park at Severnside, has attracted its first pre-let. CHEP UK has signed up for a new pallet distribution facility of 50,000 sq ft on a 15-year lease with annualised rent increases in line with RPI, according to property consultants GVA.
Central Park is capable of accommodating units of more than 1m sq ft with infrastructure for the first phase of 85 acres now completed by the landowner, represented by Delta Properties.
Michael Shebson of Delta Properties said: “CHEP UK is a solid, established company and fits well with the image that Central Park is creating. We look forward to further occupiers capitalising on our ability to deliver buildings in such short time-frames.”
CHEP issues, collects, conditions and reissues more than 300 million pallets and containers from a global network of service centres, helping retailers, manufacturers and growers transport their products through the supply chain, every day. In the UK, CHEP manages a pool in excess of 25m pallets across its nationwide network of 18 strategically located service centres.
CHEP's Kevin Galvin said: “We are very happy to have secured our south west facility at what will be the landmark scheme in the region and look forward to working with the owners of Central Park."
Goodman UK Logistics, led by senior development director Charles Crossland, will manage the development having recently built CHEP a similar facility in Hoddesdon.
Agents for the 640 acre distribution park are GVA and Knight Frank.
Goodman UK Logistics, led by senior development director Charles Crossland, will manage the development having recently built CHEP a similar facility in Hoddesdon.
Agents for the 640 acre distribution park are GVA and Knight Frank.
