Logistics firm takes 377,000 sq ft distribution hub at Magna Park
Armstrong Logistics has taken a 377,000 sq ft distribution unit at Magna Park in Lutterworth from UK Commercial Property REIT.
Armstrong is has signed a 15-and-a-half-year lease for the unit. The company is an approved UK logistics partner to ALDI, delivering around one third of the ambient goods on ALDI’s store shelves and working with over 100 of ALDI’s key suppliers across the world. It already operates from another unit in Magna Park says the new premises is essential to its business in order to satisfy continued growth in ALDI’s UK business.
Will Fulton, lead manager of UKCM at Aberdeen Standard Investments, said: “This is a highly significant letting for UKCM in that it reduces the Company’s void rate by some 35% and will deliver reliable long term income to our investors from a highly reputable counter party that is the key logistics partner to one of Europe’s most prolific retail success stories.”
UKCM was advised by CBRE, Savills and Burbage Realty.