Panattoni, the world’s largest privately owned industrial developer, has agreed to lease its 345,284-square-foot unit at Panattoni Park J28 Central M1 to warehouse solutions and last-mile delivery business Super Smart Service, CoStar News can reveal.
Panattoni confirmed that CIRRO Fulfillment, operating as Super Smart Service, had signed a 15-year lease and will use the warehouse, equidistant from Birmingham and Leeds, to enhance its operational capacity in the East Midlands.
Its presence at Central M1 345 will create around 300 new jobs in the region and contributing £8 million to the economy, the developer added.
The last-mile delivery business operates more than 10 warehouses across the Midlands, working with partners such as Royal Mail, Yodel, Hermes, China Post and DPD to process and dispatch parcels for e-commerce retailers, including eBay and Amazon.
The deal comes after Super Smart Service expanded its UK warehouse portfolio in the first half of last year, taking a 354,000-square-foot unit at Fradley Park in Lichfield, Staffordshire, across a 15-year agreement. That unit was its 15th in the UK, read here.
Panattoni Park J28 sits off the M1 motorway in Derbyshire and has direct links to Sheffield and Nottingham, as well as Birmingham via Derby through the A38. The landlord says the location provides tenants with access to 71% of the UK’s population, within a 4.5 hour HGV journey.
The wider park also houses a second speculative unit of 231,191 square feet, which is vacant. Both units have 15 metres eaves and 50 metres service yards, as well as two-storey hub offices. They have also achieved BREEAM ratings of Very Good, and EPC rating of A
Andy Preston, head of development, North Midlands and Yorkshire, at Panattoni, said in a statement: "The M1/J28 is a strategic logistics location in the East Midlands, and Super Smart Service will benefit from easy access across the UK to ensure reliable and prompt delivery to consumers across the country.
"This letting will boost economic growth in the region, and showcases Panattoni’s ability to identify strategically-located sites and develop high-spec, state-of-the-art, sustainable buildings for use."
Charles Lu, head of business development Europe at CIRRO Fulfillment, added: "Our new agreed lease at Panattoni Park J28 provides a great base for us to expand our operational capacity and reach, and serve more domestic businesses.
"The size and location of the unit is crucial in our provision of second-to-none storage and distribution, and we are pleased to have worked with Panattoni to find a unit that suits our specifications and needs, and support the creation of approximately 300 new jobs and a predicted £8 million generated in the region as we continue to drive the recovery of the UK economy."
Avison Young advised the tenant, while the leasing agents at Panattoni Park J28 are FHP, CBRE and Cushman & Wakefield.