Forsters acts for BA Pension Fund on 400,000 sq ft ft Waitrose let
Forsters has acted for the British Airways pension fund on a pre-let to Waitrose of a c400,000 sq feet distribution warehouse at Matrix Park in Chorley, Lancashire, to be developed by Evander Properties.
Waitrose will lease the site from BA Pensions for 25 years at an initial rent in excess of £1.9m per annum. The development, comprising 365,000 sq feet of warehousing with offices and ancillary facilities, will provide Waitrose with a regional distribution centre from which to supply up to 80 branches in the north of England and Scotland. Up to 600 jobs are set to be created by the new site which support the retailer’s ambitious expansion plans in the region.
Planning consent has already been obtained for the development, situated on a former BAE defence systems site, and construction works are due to commence summer 2011.
The centre will be operational by Autumn 2012.
The Forsters team was led by Eugene McMahon. Eversheds (David Newstone) acted for Waitrose.