Wholesaler takes 186,000 sq ft at Arrow Point

Gem Imports has signed for the unit at Junction 36 of the M1, within the 452,000 sq ft development backed by Arrow Capital Partners and Cerberus.

Arrow Point is described as a net-zero embodied carbon development, developed for Arrow’s Strategic Industrial Real Estate joint venture with Cerberus.

Features at the development include air source heat pump technology, electric vehicle charging points and ‘solar ready’ roofs, which have contributed to it scoring an EPC rating of A and a BREEAM ‘Excellent’ certification.

Gem Imports, an online importer and wholesale supplier of discount product ranges and pound lines, has signed a long-term lease at a rent of £7.75 per sq ft.

The remaining unit, the 266,000 sq ft Arrow 265, remains available to let.

Arrow Point was developed to meet demand for big-box logistics assets in Yorkshire and northern England, the location giving it good access to the M62, M18 and A1.

Rob Howe, head of European real estate at Arrow Capital Partners, said: “This lease highlights the continuing demand for modern big-box logistics space in the north of England. Despite recent market volatility, the structural drivers underpinning the big-box logistics sector remain consistent.

“Our experience shows that occupiers and investors are increasingly prioritising well located and sustainable space that will meet their operational and broader sustainability goals well into the future.”

Arrow Capital Partners was advised by CBRE, Cushman & Wakefield and LSH. Gem Imports was advised by AWS.

Mike Baugh, executive director at CBRE in Leeds, said: “We are delighted to secure this strategic deal for Arrow Capital.  It was a pleasure working with Nick at AWS to assist Gem Imports in their expansion.

“This deal maintains the steady take-up momentum in the Yorkshire market, despite economic challenges which have slowed down decision making on some transactions.”

A specialist investor, developer and manager of real estate, Arrow Capital Partners targets equity and debt opportunities, specialising in cross-border transactions where it can use its platform and balance sheet to invest with US and Asia-Pacific investors into Europe, as well as European and US investors into the Asia-Pacific region. Arrow has a team of 60, globally based out of 12 countries.

The scheme is net zero carbon. Credit: via Tavistock