Logicor, a leading owner, manager and developer of European logistics real estate, has leased Sherburn 550; a 556,000 sq ft warehouse in Sherburn in Elmet, North Yorkshire, in what is one of the UK’s biggest industrial property deals this year, and the largest in the North.
The fully refurbished modern unit has been leased by major pan-European third-party logistics operator ID Logistics, a long-term customer within Logicor’s portfolio.
Sherburn 550 is located off Junction 42 of the A1(M) to the east of Leeds, on one of the UK’s strategic north / south trade routes, approximately 4 hours’ drive to both London and Edinburgh.
The enduring e-commerce and consumer habits mean that demand for well-located and modern real estate continues. In practice, it meant that Sherburn 550 was leased to ID Logistics with no void period after the previous customer vacated the building.
Jack Garrett, Logicor's Director of Asset Management, UK, says: "Leasing Sherburn 550 is testament to Logicor’s ability to meet customer demand and provide them with high quality logistics real estate in the right locations. We pride ourselves on knowing what’s important to our customers, and the chance to work with ID Logistics in the UK as well as Europe, to support their growth in the country is an exciting prospect.”
Stuart Evans, Managing Director, ID Logistics UK, says: "This property represents an important next step in the growth of ID Logistics in the UK. Logicor, Knight Frank and Carter Jonas teams have supported us in delivering under the timetable we require, and we thank them for their commitment in securing this lease”
The warehouse features Grade A specification including 56 loading doors, 15m eaves height, three service yards, quality offices and generous power provision.
The site also forms parts of The Sherburn Distribution Park, which is home to notable national occupiers such as Sainsburys, GXO, Eddie Stobart and Kingspan.