Major global fashion player takes huge unit at Junction 26
Australia’s largest online retailer has taken the lease on an 81,000 sq ft unit at Blenheim Industrial Estate in Nottinghamshire.
Cotton On Group employs 18,000 people and has 1,500 outlets in 22 different countries.
The fashion retailer opened its first store in 1991 and has since skyrocketed to become one of Australia’s best-known brands.
FHP Property Consultants and M1 Agency sealed the deal to bring the clothing giant to the East Midlands on behalf of Urban Logistics Reit Plc.
Its new unit will serve as a distribution centre.
The deal follows the letting of a speculatively constructed 18,000 sq ft unit at Blenheim to All Shires Foods.
The industrial estate is located at Junction 26 of the M1, making it a prime site for logistics.
Tim Gilbertson and Chris Proctor from FHP said: “A great result for all parties involved here and a pleasure to act on behalf of Urban Logistics. They took the sensible option of developing out the final four plots on the established Blenheim Industrial Estate speculatively to provide prime manufacturing/distribution space in a wonderful location just off Junction 26 of the M1 motorway.
“Their positive and sensible approach has yielded terrific results and we are delighted to announce the first two lettings on the estate, the larger of which saw 81,000 sq ft let to Cotton On Group.
“We wish the new occupiers well in this pristine Grade A building.
“We would also like to thank their agent, Toby Smith of Harper Dennis Hobbs for helping seal this transaction.”
John Barker, head of development at Urban Logistics Reit Plc, said: “The funding venture with Wilson Bowden Developments has worked well and they have completed the buildings to a high standard.
“The East Midlands element of the portfolio was recently completed so early lettings to Cotton On and All Shires Foods is testament to the tenant demand in the market and that we’ve let two of the four Nottingham units so quickly after practical completion, with further interest in the remaining two, is satisfying.”
Olivia Salisbury, asset manager at Urban Logistics Reit Plc, added: “We’re pleased to welcome Cotton On and All Shires to the ULR portfolio and look forward to working with them going forward.”
