Commercial Property News

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Thursday, May 31, 2023

HelioSlough and CBRE secure UK's largest speculative shed letting

HelioSlough and CBRE Strategic Partners have completed the UK's largest speculative shed letting at their Nimbus Park development in Thorne, near Doncaster, South Yorkshire.

MFI, in conjunction with DHL/Exel Supply Chain, has taken the 750,000 sq ft (69,675 sq m) distribution facility on a new 10-year lease. The annual rent is 3.075m.

The building was completed in December 2006 and there is scope for a further 230,000 sq ft (21,367 sq m) of distribution space at the site.

Rob Trevor, development director of HelioSlough, comments: "This letting is a ringing endorsement of the strength of the M18 / South Yorkshire market and of Doncaster as centre for large-scale distribution.

"To agree the deal so soon after practical completion is very satisfying, and the volume of interest from potential occupiers throughout the build programme vindicates HelioSlough's decision to build big in this established location."

Giles King, managing director of CBRE Strategic Partners, says: "On top of the excellent location and infrastructure, the swiftness of this letting reflects the latent demand for distribution facilities in the area, particularly ones of the quality of Nimbus Park."

Chris Pavlovski. Chief Operating Officer of MFI, comments: "MFI carefully selected Nimbus Park after an exhaustive search and it is a first class location for us to serve our growing network. We were impressed by the size and quality of the building, infrastructure, landscaping and environment, as well as the strategic location of the site."

HelioSlough and CBRE Strategic Partners were advised by M3, King Sturge and Atlas Consultants, while MFI was represented by Haslams and Ridgemoor in the transaction.