Following a boom in the homes and interiors industry during the Pandemic, British interiors business The Cotswold Company has expanded by leasing a new, speculatively built 139,202 sq ft distribution centre at Fradley Park in Lichfield. Leeds-based property investor and developer, Evans Property Group, has secured the 10 year lease on the Axis 38 unit in advance of its practical completion this month.
Axis 38 was constructed by GMI and incorporates 8,900 sq ft of fitted offices, a feature glazed entrance and provision for 33 parking spaces within a secure fenced yard. Avison Young acted on behalf of the landlord in the transaction and SBH represented the tenant.
The Cotswold Company, a fast growing digitally led retailer of high quality timeless furniture and homewares, 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. Their focus on helping customers create a home for life and industry leading quality has seen them well positioned to meet this consumer shift in behaviour. The new distribution centre will allow the company to fulfil consumer demand in even faster time frames ensuring they continue to grow their reputation for service excellence as they expand their product proposition to cover the whole of home.
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.
Evans Property Group has had interests in Fradley Park for more than 20 years, having developed over 2M sq ft on the site to date. Fradley Park is centrally located with excellent access to the surrounding motorway network. Current occupiers include DHL, Swish, Faurecia, Screwfix, IMI Norgren, Stobart Group, Tesco, ASOS and Hawkins Logistics.
Richard Bean, Portfolio Director for Evans Property Group, said;
“We are pleased to confirm the letting at Fradley Park to The Cotswold Company. The site is well-established as a first-class location for distribution, and we are proud to be part of its continual development and expansion. 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.”
Alan Joseph, Operations Director for The Cotswold Company, added;
“We are delighted to be opening a new distribution centre to help meet the demand for The Cotswold Company products. Though 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. 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. ”
David Willmer, Principle at Avison Young, commented;
“The Fradley Park development is a well-established market leading property and it’s been great to be involved in securing a letting prior to the practical completion of the unit. The high level of occupier interest and subsequent deal endorses the commitment by Evans Property Group to continue to build and improve to a high standard this strategically located development.”