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01/07/2015

LondonMetric Exchanges Contract With CDP

LondonMetric has exchanged contracts with CDP to purchase and forward fund the development of a new retail distribution centre.

CDP, the build arm of Marshall Construction Group, will deliver the 524,000 sq ft warehouse in Wakefield for over £39 million.

The 30 acre site is located near J.31 of the M62 in a logistics hub with adjoining occupiers including Asda, DHL, HSBC, Royal mail and TK Maxx.

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The warehouse has been pre-let to Poundworld Retail on a 15 year lease.

Mark Ward, Property Director at Poundworld Retail, said: "We have a rapid store expansion programme over the next three years and the new distribution centre will aid our expansion plans, improve efficiency and allow for a broadening of our product range in our single and multi-price format stores.

"We look forward to partnering with LondonMetric whom we have known for a number of years, as we bring further jobs and prosperity to the Yorkshire region."

(LM)

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