We’re pleased to have secured a major pre-let at Symmetry Park, Darlington, to a world-leading retailer. The total development cost, which is in excess of £100million, is being forward funded by Tritax Big Box REIT.
The global online retail giant has taken a 1.5million sq ft logistics facility on a 20-year lease. The fulfilment centre will occupy 40 acres of the wider 90-acre site, leaving 37-acres available for further development.
Located on the A66, seven miles from junction 57 of the A1 motorway and 20 miles from Tees Port, the centre will be home to a new industrial logistics fulfilment centre at Link 66, Darlington.
We successfully signed an option with Durham Cathedral in November last year to promote the site and gained approval for the facility earlier this month.
Speaking about the scheme, our development director Simon Dixon, commented: “This deal is the culmination of many months’ work and is undoubtedly a major coup for the scheme and this area of the North East, particularly in light of the recent closures of M&S and House of Fraser. We have worked extremely closely with Darlington Borough Council, the occupier and Tritax and we really appreciate their collaborative approach to getting this deal over the line.”
“With the deal now signed, we will look to appoint a contractor in the coming weeks and are planning to start on site imminently. We will be also seeking to gain outline planning consent for approximately 550,000 sq ft on the remaining 37-acres.”
Colliers International Gent Visick and Carter Jonas are our advisers.
The project team includes: Lichfields, planning consultants; GVA, project manager; cost consultant RPP; Harris Partnership, architect: JPG, engineer and Desco, M&E consultant