Construction kicks off on more than 200,000 sq ft of warehouse space
BentallGreenOak and Equation Properties have started on site with two new industrial/distribution warehouses at Prism Park, in Wakefield.
The properties will comprise 153,323 sq ft and 56,360 sq ft and are due to be completed during quarter four 2023. General contractor, Winvic, will deliver the scheme.
IFCO Systems UK Ltd, has agreed a pre-let deal on the largest unit, as part of its expansion plans.
The Industrial and Logistics team at CBRE in Leeds, alongside Avison Young advised BentallGreenOak and Equation Properties on the acquisition and subsequent pre-letting. The 10-acre site was bought from Homes England in 2022.
Rob Vaughan, development director at Equation Properties, said: “We are thrilled to get this development underway with a pre-let to IFCO Systems UK.
“They are an expanding global business and are an essential part of the UK food supply chain requiring high-quality premises.
“This is yet another construction start across the BentallGreenOak and Equation Properties portfolio, demonstrating our joint commitment to developing in strategic locations despite challenges in the economy.”
Dirk Schaich, director supply chain & operations at IFCO Systems, said: “With Equation and Winvic we have found an experienced project developer and construction partner who shares our commitment to sustainability, implements our high environmental and efficiency standards in building development and supports our ambitious time and growth plans.”
Danielle Raunjak, associate director at CBRE, added: “This site will deliver high quality logistics space that will meet the needs of a vast range of occupiers looking to boost their business activities in Yorkshire and the rest of the UK.
“The pre-let of 153,000 sq ft to IFCO Systems UK Ltd is testament to the prime location and quality of the space to be delivered.”
TaylorWessing solicitors advised BentallGreenOak and Equation Properties on the pre-let to IFCO Systems UK.
