(London) – Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), has completed the letting of a 197,000 sq ft distribution unit at the Brackmills Industrial Estate in Northampton.
The agreement will see Cygnia Logistics Limited (“Cygnia”), one of the UK’s leading providers of ecommerce and multi-channel fulfilment solutions, occupy the property on a 15-year lease. The business has been in situ since 2015 as a subtenant to Office Depot. As part of the back-to-back transaction, Office Depot has terminated its lease which was due to expire in 2024.
The unit, which is approximately 20 years old, provides approximately 197,000 sq ft of distribution space, alongside a 15-metre height clearance and twin yards with depths of 60m and 80m respectively. It is located on Brackmills Industrial Estate, one of the UK's premier logistics and transport parks, and within the UK’s ‘Golden Triangle’, an area recognised for its strong transport links and ability to reach a significant majority of the country’s consumer market.
Ben Lomax, Director, Real Estate, Aviva Investors, said:
“We are very happy to have agreed a long-term leasing arrangement with Cygnia. This deal demonstrates continued demand for well-located distribution space from businesses looking to strengthen their supply chains at a time of heightened uncertainty. The position of this asset, with close access to major road networks, makes it particularly attractive for businesses and is in keeping with our focus on high-demand locations that can offer long-term performance within our portfolio.”
Aviva was advised by MK2 Real Estate and Cygnia was advised by Clews & Co.
For more information contact:
The information and opinions contained in this document are for use by the financial press and media only. No reliance may be placed for any purpose on the information or opinions contained in this document nor should they be seen as advice.
The press release is provided on the basis that Aviva Investors Global Services Limited is not causing the communication of a financial promotion under exemption of the Financial Promotion Order, as Aviva Investors Global Services Limited has no control over the way in which an article based on this press release is prepared and published by the financial press and media.
Except where stated as otherwise, the source of all information is Aviva Investors Global Services Limited (“Aviva Investors”) as at 03 June 2020. Unless stated otherwise any views, opinions expressed are those of Aviva Investors. They should not be viewed as indicating any guarantee of return from an investment managed by Aviva Investors nor as advice of any nature. The value of an investment and any income from it may go down as well as up and the investor may not get back the original amount invested.
Issued by Aviva Investors Global Services Limited, registered in England No. 1151805. Registered Office: St Helen's, 1 Undershaft, London, EC3P 3DQ Authorised and regulated by the Financial Conduct Authority.
Aviva Investors is the global asset management business of Aviva plc. The business delivers investment management solutions, services and client-driven performance to clients worldwide. Aviva Investors operates in 14 countries in Asia Pacific, Europe, North America and the United Kingdom with assets under management of £346 billion in assets as at 30 June 2019.
Aviva provides life insurance, general insurance, health insurance and asset management to 33 million customers.
In the UK we are the leading insurer serving one in every four households and have strong businesses in selected markets in Europe, Asia and Canada. Our shares are listed on the London Stock Exchange and we are a member of the FTSE100 index.
Aviva’s asset management business, Aviva Investors, provides asset management services to both Aviva and external clients, and manages over £346 billion in assets (as at 30 June 2019). Total group assets under management at Aviva group are £501 billion (as at 30 June 2019).
Aviva helps people save for the future and manage the risks of everyday life; last year we paid £32.9 billion in claims and benefits on behalf of our 33 million customers.
By serving our customers well, we are building a business which is strong and sustainable, which our people are proud to work for, and which makes a positive contribution to society.
The Aviva newsroom at www.aviva.com/newsroom includes links to our image library, research reports and our news release archive.
For an introduction to what we do and how we do it, please click here www.aviva.com/about-us