Swiss firm sign major deal for Gateway site
A SWISS-based company has signed a major deal to establish a UK base at the new East Midlands Gateway site near East Midlands Airport.
SEGRO plc has secured a major pre-let with one of the world’s leading transport and logistics companies at its massive development scheme alongside the M1 at Kegworth.
Kuehne + Nagel, already a groupwide customer with SEGRO, has agreed a 15-year lease on a 195,547 sq ft unit on a 17-acre site at SEGRO Logistics Park East Midlands Gateway.
The Swiss-based company, which operates in over 100 countries worldwide, will establish a central UK location for its Overland operations at the 700-acre ‘inland port’.
Andy Gulliford, chief operating officer for SEGRO, said: “SEGRO Logistics Park East Midlands Gateway is a game-changing multi-modal scheme which will offer companies unparalleled road, rail and air connectivity.
“Securing major international customers, who are committed to establishing such significant operations on site represents an enormous vote of confidence for the scheme, the East Midlands region, and the UK.
“We are entering a new era of e-commerce as a mainstay of the UK economy. The supply of big box warehousing, which provides uncompromising scale, location and connectivity, is fundamental in sustaining its growth. East Midlands Gateway exemplifies this critical infrastructure and signals our intent as a major player in the UK big box market.”
Jim Hedderwick, director of Overland – UK, said: “We are delighted to have secured a site at SEGRO Logistics Park East Midlands Gateway which is ideally located for our expanding Overland operations. The new facility will enable us to continue to develop our market leading European groupage product and will be designed to include a 40,000 sq ft temperature controlled area to accelerate our ambitious growth plans within the pharmaceutical sector.”
Since its launch to the market in October 2017, SEGRO has contracted over 2.5 million sq ft of space. In addition to the signing of Kuehne & Nagel, a leading transport and logistics operator has signed a 16-year lease for 638,000 sq ft facility and an online retailer has signed a 1.3 million sq ft pre-let.
Additionally, Shop Direct, the digital retailer whose retail brands include Littlewoods and Very, has committed to establishing operations at a new 550,000 sq ft facility.
As part of the scheme, SEGRO is delivering extensive road improvements which will increase capacity at Junction 24, Junction 24A and will deliver a new bypass for Kegworth. The scheme will also include a 50-acre rail freight terminal, and a public bus terminal has recently opened at the new entrance to the site .
Highways England are also undertaking work to the current M1 to create a ‘smart motorway’.
The development of SEGRO Logistics Park East Midlands Gateway will create 7,250 jobs, 900 construction jobs and 3,000 indirect jobs.