Bericote Properties has secured pre-lets for all three units at a new 784,989 sq ft logistics park in Coventry, agreeing long leases with DHL, Geodis and Viad, Property Week can reveal.
The logistics developer is understood to have agreed long leases with DHL, Geodis and Viad for three recently completed warehouses at the newly-titled Coventry Logistics Park development, located on the golden triangle at junction 2 M6.
In April 2021, Property Week revealed that Bericote had purchased the site from the administrators for Toys ’R’ Us for £60m.
Bericote’s speculative redevelopment of the former Toys ‘R’ Us Goliath warehouse saw the existing building demolished and replaced with three units of 484,000 sq ft, 251,000 sq ft and 47,000 sq ft, now signed to the trio of new tenants.
Leading logistics courier DHL will take the largest warehouse at close half a million sq ft, logistics firm Geodis will occupy the second-largest warehouse while leisure and travel firm Viad will take the smaller building.
DTRE has been retained to provide strategic advice on the asset.
The scheme targeted BREEAM Outstanding and has incorporated design initiatives that will cut the use of water by 45% and power by 30%, as well as introducing Coventry’s first ever cycle share scheme.
Rachel Baker, Coventry City Council business development adviser, said in a statement: “Bericote has been brilliant in terms of its social value offer, sponsorship of the Coventry Children’s Games and, more recently, its sponsorship of homes for Ukraine families was incredible – two really notable achievements. It has gone above and beyond.
“Thank you from Coventry City Council and all the people that benefited from your initiatives, you’ve really made a difference.”
DTRE and JLL were the letting agents on the development.
By Jamie Bennett-Ness
Mon 12 September 2022