Property letting, sales and investment case studies - BNP Paribas Real Estate UK
CentricaWe acquired a new distribution site to expand Centrica’s growing business Acquisition of 100,000 sq ft warehouse unit in Coventry
- Location Prologis Park, Coventry
- Key figures 100,000 sq ft distribution warehouse in Coventry.
- Contact Nick Waddington, +44 (0) 121 234 6869
- Centrica secured a new distribution centre to service its Smart Metering project
- As it leases the building directly, it isable 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 client needed a new national distribution centre for the roll out of smart meters, the only base for this completely new business initiative. It wanted 100,000 -300,000 sq ft close to Leicester and needed to agree terms within 3 months so it 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 its transport costs.
- We acquired a 100,000 sq ft unit in Coventry which was not on its original search list. We persuaded Centrica to take it as it was better suited to its requirements