(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.
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