Conditional contracts have been exchanged by Tritax Big Box REIT to acquire the land and provide forward funding for the development of a new distribution warehouse facility in Northamptonshire.
The £67m facility has been pre-let in its entirety to Howden Joinery Group and is located at Warth Park in Raunds, Northamptonshire on the A45 corridor approximately three miles from J13 of the A14.
Colin Godfrey, Partner of Tritax, said: "We are excited to be investing in a new national distribution centre for Howdens, which provides further tenant and geographic diversification. We look forward to working with Roxhill to deliver a best in class warehouse facility for Howdens at this key logistics location, which has already attracted many high profile occupiers."
The new distribution facility will comprise a gross internal area of approximately 655,000 sq ft, across a site of approximately 32.52 acres, reflecting a site cover of c.46%. The building will include modern specifications with cross docking and an eaves height of 15 metres.
Construction of the main works is expected to commence in September 2015 with practical completion of the construction targeted for
June 2016.