Central Park, Bristol, is pleased to announce its first pre-let to CHEP UK Limited for a new pallet distribution facility of 50,000 sq ft. The lease is for a 15 year term, with annualised rent increases in line with RPI.
The facility will be operational in the second quarter of 2012; construction will commence in the first part of September 2011. The CHEP deal justifies the significant infrastructure works that the landowner, represented by Delta Properties, has prepared on site over the last couple of years.
Michael Shebson of Delta Properties said, “We are delighted to have secured our first pre-let at Central Park and are pleased to have timed our infrastructure works so well to serve an increasing occupier demand in the South West. CHEP UK is a solid, established company and fits well with the image that Central Park is creating. We look forward to further ccupiers 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 25 million pallets across its nationwide network of 18 strategically located service centres. CHEP UK chose Central Park as a regional distribution location to complete its network of operations.
Kevin Galvin of CHEP UK 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 going forward”.
Goodman UK Logistics, led by Senior Development Director Charles Crossland, will manage the development on the landowner’s behalf, having recently built CHEP UK’s similar facility in Hoddesdon.
Agents for the 640 acre distribution park are GVA and Knight Frank.
