Cosmetics company Pangaea Laboratories has signed a 15-year pre-let for 86,375 sq ft at the second phase of Symmetry Park, Aston Clinton.
The deal is an expansion for Pangaea and will form its innovation centre to facilitate product development and business growth. It encompasses one of three buildings which Tritax Symmetry are speculatively developing at this park, with the remaining two buildings comprising 115,000 sq ft and 184,000 sq ft.
Construction contractors are already on site and working towards a completion date of Q1 next year.
This phase of speculative development will be net zero carbon in construction in line with the Tritax Symmetry’s commitment to develop all future projects to this standard. The scheme will also provide a minimum of 25% photovoltaic coverage of the usable roof area.
The site which benefits from planning consent for both logistics and film studio use is fully serviced with roads and utilities with a substantial power supply (up to 6 MVA) available. Situated directly alongside the A41, the site provides prominence for occupiers and excellent transport links to the M25 J20, national motorway and trunk road network.
Speaking about the pre-let, Christian Matthews, Director at Tritax Symmetry, commented: “Pangaea is an exciting, forward thinking and ambitious British company and we welcome them to Symmetry Park, Aston Clinton. Established in Hertfordshire, the company has enjoyed significant growth and we have worked closely with their team in order to design a building to accommodate their highly skilled operations.”
Owen Lewis, Chief Operations Officer at Pangaea, added: “We are delighted to be incorporating our R&D, supply chain, manufacturing and distribution under one roof within an Innovation Centre at Symmetry Park. Following recent major investment in our business, this new facility will be the basis for further growth in our brands, including Medik8 and Nanogen as well as helping to enable our forthcoming expansion into the US.
Extending to a total of 46 acres, Symmetry Park, Aston Clinton / M25 J20, Phase 1 is complete and comprises a total floor space area of 252,013 sq ft. This phase comprises three high-quality detached warehouse/industrial units with Unit 1 (83,831 sq ft) pre-let to Global Infusion Group in November 2019 and two further units of 56,034 sq ft and 112,148 sq ft let to MBS Equipment UK Ltd in August last year.
The project team includes AJA Architects, Framptons Town planning and Savills Project Managers.
Founded in 1999, Pangaea is a premium British cosmetics company focused on science-based skin and hair care. Initially starting as a mail-order company, Pangaea has expanded its in-house expertise into research and development, manufacturing and distribution. Committed to ethical manufacturing and sustainability, Pangaea has a track record for developing brands into category leaders and is recognised for developing innovative high-quality products for the professional beauty industry and international market.
Savills and Braiser Freeth are joint letting agents for the scheme.