Saturday, April 17, 2010

Co-operative Group Agrees to 20 Year Lease on Build-to-Suit UK Distribution Center

PropertyEU - April 14, 2010

Legal & General Property has agreed to acquire a distribution centre project in the UK from Goodman for 47 mln (EUR 53 mln). Goodman, a global provider of industrial and business space, announced this week that it will commence development of the pre-let 43,484-m2 regional distribution centre (RDC) at Andover Commercial Park, formerly Andover Airfield, in Hampshire following the forward-funding agreement with LGP.

The distribution centre will be occupied by The Co-operative Group, the UK's fifth largest food retailer, on a 20-year lease. Goodman aims to achieve a BREEAM rating of "Very Good&" for the facility.

Goodman was represented by Savills and Carter Jonas. M3 acted for LGP and Thomas Round advised The Co-operative Group. Sphere: Related Content

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