IFCO agrees 153,000 sq ft Wakefield pre-let
Terms have been agreed at Prism Park with the supplier of reusable grocery packaging. Contractor Winvic is now on site for developers BentallGreenOak and Equation Properties.
The 153,323 sq ft unit, along with a further building of 56,360 sq ft, was recently given planning permission, with both warehouses expected to be completed in the last quarter of 2023.
CBRE and Avison Young advised BentallGreenOak and Equation Properties on the acquisition and subsequent pre-letting. The 10-acre site was bought from Homes England in 2022.
Rob Vaughan, development director at Equation Properties, said “We are thrilled to get this development underway with a pre-let to IFCO Systems UK. They are an expanding global business and are an essential part of the UK food supply chain requiring high quality premises.
“This is yet another construction start across the BentallGreenOak and Equation Properties portfolio, demonstrating our joint commitment to developing in strategic locations despite challenges in the economy.”
Dirk Schaich, director supply chain & operations at IFCO Systems, said “With Equation and Winvic we have found an experienced project developer and construction partner who shares our commitment to sustainability, implements our high environmental and efficiency standards in building development and supports our ambitious time and growth plans.”
Danielle Raunjak, associate director at CBRE, said “We are delighted this site has commenced construction having advised on the acquisition.
“It will deliver high quality logistics space that will meet the needs of a vast range of occupiers looking to boost their business activities in Yorkshire and the rest of the UK. The pre-let of 153,000 sq ft to IFCO Systems UK Ltd is testament to the prime location and quality of the space to be delivered.”
Law firm TaylorWessing advised BentallGreenOak and Equation Properties on the pre-let.
