Tritax Symmetry, the dedicated logistics development company of Tritax Big Box REIT, has exchanged an agreement for lease with Iron Mountain for 312,000 sq ft of logistics space at Symmetry Park in Kettering.
The announcement comes just days after the global leader in innovative storage, data centre infrastructure, asset lifecycle management and information management services, announced that it plans to launch its first UK campus at Symmetry Park in Rugby, Warwickshire.
The agreement will see Iron Mountain take Unit 2 at Symmetry Park Kettering when it reaches practical completion in January 2023, the largest unit in the current phase of Tritax Symmetry’s speculative development.
Buckingham Group Contracting was appointed in April to deliver the facility, building the scheme to Net Zero Carbon in Construction standards, in line with the UK Green Building Council’s guidelines.
Commenting on the agreement for lease Jonathan Wallis, Development Director for Tritax Symmetry said: “We are proud to welcome Iron Mountain to Kettering, so soon after concluding our transaction with them for one million square foot of space at Symmetry Park, Rugby. It has been a pleasure discussing the options with Iron Mountain and this commitment is a clear demonstration of having forged such a close, collaborative approach between the two businesses. This letting evidences the strength of Symmetry Park, Kettering as a key logistics location in the East Midlands.”
He continued: “This will be the first building delivered by Tritax Symmetry at Symmetry Park Kettering and with reserved matters planning permission for further buildings, delivering 2.3 million of space across the 136 acre site, this agreement marks the start of delivery at this important strategic site.”
As part of Iron Mountain’s ambitions to achieve Net Zero emissions by 2040 the development at Kettering followed a rigourous assessment of the facility’s potential for sustainability. The leased buildings will achieve net zero carbon construction and come with 20% photovoltaic roof coverings. They will also offer charging points for electric vehicles.
Phil Shepley VP and Commercial Lead for Iron Mountain in the UK added: “Our rapid expansion in the UK underlines the demand for our services at a time where e-commerce is at the forefront of the UK warehousing and logistics property industry. Growth in jobs and investment into the local economy is key in all of the locations in which we operate and we are looking forward to bringing a range of opportunities such as digital and record management services to Symmetry Park, Kettering.”
Councillor Jason Smithers, Leader of North Northamptonshire Council, commented: “The letting to Iron Mountain is an important step for this key employment site in North Northamptonshire. The investment at Symmetry Park, Kettering will attract jobs and Tritax Symmetry’s commitment to Net Zero Carbon in Construction is in line with our aims of responsible growth. This news demonstrates economic confidence in North Northamptonshire and delivers a clear message of what can be achieved, both at this site and around our region.”
Tritax Symmetry has secured reserved matters consent for an additional 500,000 sq ft building (cross-dock and single sided options) and a 123,000 sqft building at Symmetry Park, Kettering. The outline consent includes for buildings to be delivered in excess of 1 million sq ft.
The Project team includes: Stephen George + Partners (Architects), Trinity Property Consultants (Project Managers), Feasibility (Quantity Surveyors), Framptons Town Planning (Planning Consultants).
Burbage Realty and BNP Paribas Real Estate are joint letting agents for the scheme. Tom Shaw of JLL advised Iron Mountain