Case Studies

Property letting, sales and investment case studies - BNP Paribas Real Estate UK  

Centrica

Acquisition of 100,000 sq ft warehouse unit in Coventry
How we acquired a new distribution site to expand Centrica’s growing business and secured a competitive deal with 27 months rent free.

  • Location Prologis Park, Coventry
  • Key figures 100,00 sq ft distribution Warehouse in Coventry.
  • Contact Nick Waddington, +44 (0) 121 234 6869

 

The results

  • Centrica secured a new distribution centre to service their Smart Metering project
  • As it leased the building directly, it is able to control its own destiny, and ensure that it gets the highest quality service from its distribution provider.
  • It has the direct benefit of a substantial incentive package (27 months rent free and £530,000 contribution to fit out)– better than the market norm on a 10 year lease

The challenges

  • The client needed a new national distribution centre for the roll out of smart meters, the only base for this completely new business initiative. They wanted 100,000 -300,000sqft close to Leicester and needed to agree terms within 3 months so they could begin distributing Smart Meters.

What we did

  • Originally, Centrica’s first choice was a site at Litchfield, however we advised that this would potentially have added £40,000 per week to their transport costs.
  • We acquired them a 100,000 sq ft unit in Coventry which was not on their original search list. We persuaded them to take it as it was better suited to their requirements.
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