Logicor, a leading owner and manager of logistics real estate in Europe, has announced that B&M, one of the UK’s fastest-growing variety retailers, has agreed a lease extension at its Onyx 350 warehouse in Runcorn, UK which will support its expansion plans.
A new lease has been secured for the 343,312 sqft existing premises and Logicor has committed to developing an additional c.112,000 sq ft of warehouse space for the growing retail business. Following completion of these works in 2023, a new 10-year lease will commence on the new warehouse which will total c.455,000 sq ft.
Located in one of the North West’s prime distribution locations in the east of Runcorn, the 300-acre Manor Park Industrial Estate is adjacent to the A558 which provides easy access to the M56 and also benefits from the recent completion of The Mersey Gateway Bridge, to improve connectivity between Merseyside, Runcorn and the Midlands. The park is home to several other well-known national and international companies.
B&M will continue occupying the existing building during construction of the new warehouse space. The expansion works will include the extension of the service yard to the north and the east, eleven new loading docks, two additional level access doors and 32 additional HGV parking spaces.
Tom Blakely, Logicor Director, UK Asset Management, comments: “With B&M’s expectations to increase employment in Runcorn, we worked closely with their team to understand their expansion needs, working to keep them in the premises and location that they know well, and to design the right space for their expansion needs.
“As part of the new development, we’ll also upgrade their existing warehouse to provide LED lighting throughout, for the benefit of staff and the environment, and delivering a BREEAM certified asset.”
Planning permission is submitted and building works are expected to start in Q3 2022, with planned completion expected in the first half of 2023.