BentallGreenOak and Equation Properties have agreed a pre-let on a 153,323 sq ft warehouse to IFCO Systems UK at Prism Park in Wakefield, West Yorkshire.
General contractor Winvic will deliver the scheme which also includes a 56,360 sq ft unit due to be completed during Q4 2023. The buildings will be built to BREEAM Excellent and EPC A ratings.
Rob Vaughan, development director at Equation Properties, said: “We are thrilled to get this development underway with a pre-let to IFCO Systems UK. They are an expanding global business and are an essential part of the UK food supply chain requiring high-quality premises. This is yet another construction start across the BentallGreenOak and Equation Properties portfolio, demonstrating our joint commitment to developing in strategic locations despite challenges in the economy.”
Dirk Schaich, director supply chain and operations at IFCO Systems, added: “With Equation and Winvic we have found an experienced project developer and construction partner who shares our commitment to sustainability, implements our high environmental and efficiency standards in building development and supports our ambitious time and growth plans.”
Danielle Raunjak, associate director at CBRE, said: “We are delighted this site has commenced construction having advised on the acquisition. It will deliver high quality logistics space that will meet the needs of a vast range of occupiers looking to boost their business activities in Yorkshire and the rest of the UK. The pre-let of 153,000 sq ft to IFCO Systems UK is testament to the prime location and quality of the space to be delivered.”
TaylorWessing solicitors advised BentallGreenOak and Equation Properties on the pre-let to IFCO Systems UK. The industrial and logistics team at CBRE in Leeds, alongside Avison Young advised BentallGreenOak and Equation Properties on the acquisition and subsequent pre-letting at the 10-acre site, which was bought from Homes England in 2022.
