Travis Perkins takes 490,000 sq ft at Brackmills
Travis Perkins, listed supplier to the building and construction industry, has taken a 490,000 sq feet distribution hub at ProLogis European Properties’ (PEPR) Brackmills DC1 in Northampton.
The 17-year lease will run from 1 November 2010. The deal, which was off-market, confirms the continued reduction in availability of warehouse buildings of comparable size and quality in the Midlands, says PEPR.
Simon Nelson, head of asset management for PEPR, said: “We are pleased to have signed our first agreement with Travis Perkins in the UK and look forward to working with them. This deal creates significant value for PEPR by securing occupancy of the building for 17 years at market rates.
"The ability to surrender the lease with the previous occupier and structure a new agreement with Travis Perkins is testament to the quality of our assets and the strength of our management team, as well as to the flexibility we are able to provide through the strength of our customer base, all of which will support us as we continue to focus on maintaining high occupancy levels and generating cash flow from the portfolio.”
