Staffordshire’s largest new distribution warehouse – 59,270 sq m (638,000 sq ft) – has been completed on time for Argos by St Modwen Properties PLC and Prologis at their joint Centre 38 development at Burton-on-Trent , and is scheduled to be operational by the end of May.
Argos is currently undertaking the final fitting out of the building which will become the firm’s national distribution centre for imported goods.
Argos has a 25-year lease on the premises at an annual rent of £2.88 million. Last year the investment was forward sold to Rotch Property Group for £50 million.
Mark Day of St Modwen, said: “This extremely large building was completed on time to a demanding schedule. Groundworks started in October 2001 with access being given to Argos in a number of phases for fitting out from May 2002 onwards. The whole programme to operational completion was only 19 months.
“This rapid programme was only capable of being achieved by the closest of co-operation between Argos, the contractors Norwest Holst and the joint venture company. It included, in addition to the building works, substantial on and off site highway infrastructure.”
DTZ Debenham Tie Leung and Lambert Smith Hampton acted for the joint venture.
For further information contact Mark Day of St Modwen on 0121-456-2800.
Issued by Paul Raymer of Howle Chapman Raymer (0121-236-7771).