NFU Mutual has agreed a £100m deal for Clowes Developments to deliver six new Grade A logistics facilities, five of which will be speculatively built with the sixth pre-let.
Totalling more than a million square feet, NFU Mutual is investing across three Clowes sites: East Midlands Distribution Centre (EMDC) in Castle Donington; Castlewood Business Park in Sutton-in-Ashfield; and Centrix Park, Corby.
The size of the units will range from 58,586 sq ft at Centrix Park to a unit of close to 250,000 sq ft at EMDC.
One of the properties included in the deal is the new Deichmann-Shoes UK building at Centrix Park, Corby. The 162,500 sq ft design and build property has already been granted planning permission and Winvic Construction is on site as contractor building the unit. Deichmann should take possession of the purpose-built facility in January 2022.
The remaining five units include a 58,586 sq ft industrial/warehouse/distribution building located opposite to the Deichmann building at Centrix Park. The wider site is home to BakeAway, MKM Building Supplies and several national trade counter retailers.
At Castlewood Business Park two new sheds will be built. On Plot 1 will be a unit of 176,817 sq ft and Plot 8 is for a unit of 134,192 sq ft.
Clowes Developments director Paul Shanley said: “Planning applications, where applicable, are ready to go and we expect to see site activity from late summer onwards. With the current shortage of good quality ‘big shed’ stock, the timing would appear just right to take advantage of market conditions.”