Prologis, the UK’ developer and owner of logistics parks, has agreed a lease with Toolstation for a new warehousing facility at Prologis Park Pineham, in Northamptonshire.
Toolstation is one of the largest national trade and DIY retailers in the UK, supplying power tools, accessories, and building materials from over 500 UK branches . Toolstation is part of the Travis Perkins Group, which is based in Northampton. The company will take a 15-year lease on a brand-new logistics building at Prologis Park Pineham, totaling 493,098 sq. ft. and will move in once construction and fit-out completes in July 2022.
For Toolstation, t he move supports the brand’s ongoing branch network expansion, with 60 new branches opening each year, together with the rapid growth of online and digital orders seen over the past 18 months.
From its location in the logistics ‘golden triangle’, at the heart of the UK’s motorway network, Prologis Park Pineham has excellent road links to both Junction 15a and 16 of the M1. Home to household names such as BMW, Sainsbury's and Morrisons, the site’s transport links have played a significant role in keeping goods and services flowing around the country during the COVID-19 pandemic.
“To agree a pre-let on the DC5 plot shows just how strong demand in the market is for well-located logistics facilities, in this prime M1 market” James Straw, capital deployment and leasing associate at Prologis UK, said: “This is the last plot at Prologis Park Pineham so we will have completed the park when this building is finished – it’s great to see Toolstation secure the last space in a location which will allow its growth trajectory to continue.”
Toolstation’s new building will also reflect the company’s ambitious targets around sustainability and carbon reduction, with added features such as solar PV on the roof and a target BREEAM ‘Excellent’ rating.
Richard Lavin, Property Director for Toolstation, said: “The opening of this new warehousing facility will support our growth plans and enable Toolstation to continue to add to our 500-strong branch network and to help us meet the needs of our customers – both digital and in branch – more effectively.”
Elsewhere in Northamptonshire, Prologis has launched the Prologis Warehousing and Logistics Training Programme. This is a bespoke training course, aimed at those leaving education, the disadvantaged, the unemployed and those looking to re-skill, in the local area. The Programme, fully funded by Prologis, aims to equip trainees with the skills, knowledge, and competencies to forge a career in logistics.
Knight Frank acted for Toolstation and Burbage, CBRE, and Cushman and Wakefield acted for Prologis.