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Tuesday, August 11, 2015
Global integrated property group Goodman can confirm work is underway on a state-of-the-art 339,300 sq ft industrial distribution unit at Andover Business Park. Work commenced on-site on 29 June 2015, with completion due in February 2016.
Working to a 31 week build programme, works on-site have already progressed well. To date, earthworks on the site are fully complete and steady progress has been made on general site drainage and concrete pad foundations for the building, with structural steelwork erection scheduled to commence next month. The 2.8 metre diameter storm water attenuation pipe drainage is now 50% complete and the gabion basket retaining wall is 50% complete.
The new unit represents a £25 million investment in Andover Business Park by project funders to Anglesea Logistics Partnerships. The partnership between Goodman and to Anglesea Logistics Partnerships was formed in November 2014 to develop prime UK logistics space.
The development at Andover will comprise a mix of warehouse and office space – at 317,425 and 21,825 sq ft respectively. It will also feature a 15 metre clear height, a 55 metre yard, 337 car spaces and 58 HGV spaces. Once the unit is complete, Andover Business Park will be one of the few sites in the South East to provide an immediately available industrial distribution unit of in excess of 300,000 sq ft.
Charles Crossland, Managing Director of Goodman UK Logistics, said: “The demand for quality logistics space in the UK continues to outweigh supply, particularly in the South East. This significant development will not only put us at the forefront of the market during 2015, but it will also will help ease the supply-demand imbalance in this region.
“Andover Business Park occupies a strategic location in the South East and is one of the few sites in the region with the necessary infrastructure in place to support large scale warehousing. The development of this new unit is welcomed by the local area, encouraging job creation and inward investment.”
With direct access onto the A303 dual carriageway, Andover Business Park is one of the South East’s prime logistics sites, benefitting from excellent connectivity to the M25 and London, the Midlands via the A34 and the M3 to Southampton. The park is already home to the Co-operative Group’s 500,000 sq ft regional distribution centre and Stannah intends to develop a new headquarters facility.
Goodman has 16 strategically-located sites across the UK, capable of delivering over 18 million sq ft. Each of these sites offers exceptional access to key transport hubs, including motorway interchanges, ports and airports. In 2015 Goodman will develop 1.7 million sq ft of speculative space throughout the UK in 13 units across six schemes.
CBRE, DTRE and Strutt & Parker have been appointed leasing agents for the new unit at Andover Commercial Park.