Commercial real estate news releases from Avison Young
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Avison Young secures letting at Axis 38, LichfieldApril 11, 2022
The Cotswold Company has expanded to a new speculatively built 137,500-square-foot unit at Fradley Park in Lichfield due to increased demand following a boom in the homes and interiors industry during the pandemic. Avison Young acted on behalf of the landlord Evans Property Group in the transaction and SBH represented the tenant.
The interiors business has taken the unit, known as Axis 38, on a 10-year lease before its practical completion this month. The distribution centre should be up and running by July 2022.
Alan Joseph, operations director for The Cotswold Company, said: “This new state of the art facility provides the perfect platform for our continued expansion and operating as much of our logistics in-house as possible allows us to maintain the high standards our customers expect."
The unit was constructed by GMI and includes 8,900 square feet of fitted office space, a feature glazed entrance, 14 dock and four level access loading doors and 33 parking spaces within a secure fenced yard.
Fradley Park has good connection to the surrounding motorway network, with national occupiers at the park including DHL, Screwfix, Stobart Group, Tesco and Asos. Leeds-based Evans Property Group has developed over 2 million square feet on the site.
"The Fradley Park development is a well-established, market leading property and it's been great to be involved in securing a letting prior to the practical completion of the unit.
"The high level of occupier interest and subsequent deal endorses the commitment by Evans Property Group to continue to build and improve to a high standard this strategically located development," said David Willmer, Principal, Avison Young, who acted on the deal alongside Robert Rae, Principal & Managing Director, Industrial, Avison Young.
For more information on recent industrial and logistics activity across the UK, read Avison Young’s latest Big Box report here.