Gazeley announces largest UK pre-let in two years with leading grocery retailer Waitrose for a new distribution centre
Gazeley, a leading global investor and developer of logistics warehouses and distribution warehouses has today announced a deal signed with leading UK grocery retailer Waitrose to develop a new 940,000 sq. ft. national distribution centre.
The building which will be developed at Magna Park Milton Keynes, Gazeley's flagship UK Logistics park will serve as Waitrose's new national distribution centre supplying its rapidly expanding network of supermarkets and convenience stores throughout the United Kingdom. The giant new distribution centre will become one of the UK's largest ever distribution centres constructed, covering a site of 45 acres.
Speaking about the deal, Gazeley CEO Pat McGillyCuddy said: "We are absolutely delighted to have been chosen by Waitrose to deliver their first ever new national distribution centre. There is no better endorsement of our quality of service, delivery capability and product than repeat business with customers who see Gazeley as a trusted partner.
This will be the third building for the John Lewis Partnership, so far providing them with in excess of 2.3 million sq. ft. of Grade A distribution space to fuel the next phase of their rapid growth and expansion.
We are proud to be part of the growing Brookfield global logistics platform that along with US based IDI gives us global scale to serve customers and grow our business"
Also commenting on the deal David Jones, Supply Chain Director at Waitrose said: "The decision to open our first National Distribution Centre marks a pivotal moment in our supply chain history and reflects our phenomenal growth.
Waitrose has outperformed the market for five years and we have ambitious plans to open 38 shops in 2014 and continue to expand our online platform."
"By simplifying our supply chain, we improve its resilience and greatly improve our ability to serve our branches now and in the future."
"We are pleased to be partnering with Gazeley for the development of this important new building for Waitrose. We have agreed an ambitious, rapid-build programme with Gazeley and are hoping for it to be operational by the summer of 2015."
Construction started on site at the beginning of March and is expected to take 9 months, with completion due to be at the start of November 2014. Thereafter fit-out will commence with the building expected to become operational during 2015.
Magna Park Milton Keynes is Gazeley's flagship UK logistics park, already accommodating two million sq ft for John Lewis, River Island and AG Barr plc. Following the deal with Waitrose the remaining 80 acres of land can accommodate up to 900,000 sq. ft. of industrial and distribution space.
Source: Company Press Release