Tritax completes 1m sq ft Amazon facility at Kettering logistics park
A major Amazon warehouse in Kettering is set to support around 2,000 jobs, following the completion of the 1m sq ft facility at Tritax Big Box’s Symmetry Park development.
The completion takes the total amount of space delivered at the 136-acre logistics scheme to 1.6m sq ft and marks the delivery of all three committed buildings at the site.
The Amazon facility is now operational under a pre-let agreement with the online retail giant and is secured on a 20-year lease, with five-yearly index-linked rent reviews.
It is expected to generate £9.8m in annual rental income for Tritax Big Box, with the development achieving a yield on cost at the upper end of the company’s 6-8% guidance range and above its initial expectations.
The wider Symmetry Park development includes a 300,000 sq ft facility occupied by Iron Mountain and a further 300,000 sq ft national distribution centre developed for Greggs.
Built to Grade A specification, the Amazon facility has achieved an EPC A rating and BREEAM Excellent certification, while also meeting Net Zero Carbon in Construction standards.
The facility is expected to support around 2,000 jobs once fully operational, adding to employment opportunities across Kettering and North Northamptonshire.
Colin Godfrey, CEO of Tritax Big Box REIT plc, said: “Reaching practical completion on this facility, Amazon’s largest UK cross-dock warehouse, is a significant milestone for Symmetry Park, Kettering and for our relationship with Amazon.
“It provides further evidence of our strategy in action, delivering growing rental income for shareholders at an attractive yield on cost.
“Our market-leading land platform enables us to carefully match clients’ requirements across building size, location and configuration, positioning us well to capture continued demand for high-quality logistics space.”
Colin Godfrey, CEO of Tritax Big Box REIT said: “Reaching practical completion on this facility, Amazon’s largest UK cross-dock warehouse, is a significant milestone for Symmetry Park, Kettering and for our relationship with Amazon. It provides further evidence of our strategy in action, delivering growing rental income for shareholders at an attractive yield on cost. Our market-leading land platform enables us to carefully match clients’ requirements across building size, location and configuration, positioning us well to capture continued demand for high-quality logistics space.”
