A £10 million speculative development of a 73,257 sq ft warehouse unit at the site of a former DIY store in Northamptonshire has reached practical completion.
Barberry Developments has announced that the high specification unit, on a 3.5-acre site at Sopwith Way, Daventry, is now ready for occupation.
The development, on the site of a former Focus DIY store, is expected to generate around 90 jobs and attract investment to the area, Barberry development director Jon Robinson said.
“Barberry 72 is a prominent, high quality warehouse/manufacturing unit, in the highly sought-after mid-box range, in what is an excellent location within the golden triangle of logistics” said Jon.
“This speculative development clearly demonstrates our confidence in the Daventry market, our product, the location and the appetite within the industrial and logistics sector for warehouse units of this size within the region.”
He added: “We are committed to executing our business plan in key strategic locations within the UK, and Barberry 72 fits into our strategy perfectly. We currently have a logistics/industrial pipeline of around 3.3 million sq ft. All of our warehouses are available on both leasehold terms or as freehold purchases to accommodate our new and existing customer requirements.”
Taking into consideration Government Covid 19 protocol, Barberry hosted a socially distanced launch event at the unit, which was attended by leading industrial and logistics property agents from across the region.
Main contractor Benniman completed the construction project. Managing director Steve Smith said: “This is the fourth project we have done for Barberry in the past 18 months, and Barberry 72 is an excellent warehouse built to a leading Barberry specification. It is always a pleasure to work alongside such an experienced and professional team.”
Christian Smith, director at Savills, said: “Completion of the unit is perfectly timed given the strong increase in warehouse demand we have seen in the first six months of the year. This reflects the increasing move online and this unit is perfectly placed to take advantage with great access to the M1, Birmingham and the South East.”
Savills and Colliers International are joint agents on the scheme.
Barberry secured the site for an undisclosed sum from New River Retail and achieved planning consent from Daventry District Council.
It is located in the established industrial estate of Drayton Fields, half a mile from the A45, leading to J18 of the M1 around 6.5 miles away. Major occupiers nearby include Amazon, Tesco, Ford, Wincanton and Cummings.
It’s been a busy year for Barberry. It recently announced it is developing a £40 million state-of-the-art aerospace manufacturing and design facility for a global leader in aerospace engine and flight controls systems in Gloucestershire. The 184,000 sq ft centre of excellence for Moog’s Aircraft Controls Segment will be built on a 10-acre site at Ashchurch, Tewkesbury. It is believed to be one of the biggest deals of the year in the manufacturing sector.
Meanwhile, earlier this summer it announced that the UK’s leading roofing merchant is investing £4million in a new distribution hub after agreeing a deal for a unit at a multi-million pound business park in the South West. Joint venture developer Richardson Barberry agreed a deal with SIG Roofing – which plays a critical role in the construction supply chain – for a 10-year lease on a 31,617 sq ft warehouse unit in Bristol.
Barberry, recognised as the Commercial Developer of the Year 2019 at the West Midlands Property Awards, has a 3.3 million sq ft industrial/logistics development portfolio with a Gross Development Value of more than £398 million. The company is also delivering student accommodation and residential schemes worth in excess of £200 million and has 528 acres of strategic development land, with a development land value of £262 million, across 14 sites under its control.
