FEATURE Prop-Search
As part of the Government’s COVID-19 pandemic plan, logistics staff have been classified as key workers, which is positive news for the Northamptonshire economy, says commercial property agent Prop- Search, which benefits from dominant warehouse and industrial markets. A significant number of national supermarket chains have, over the
past few years, established themselves within the county, attracted by is central location and being one of the most accessible areas of the country. Tis includes Morrisons which has distribution centres in Northampton, Burton Latimer and Corby; Sainsbury’s, which occupies approximately two million square feet across the county, and Tesco which has a million square feet at DIRFT in Daventry. Indeed, such is the demand on the food sector that Tesco has retaken possession of a vacant warehouse in Milton Keynes to deal with a surge in demand caused by the COVID-19 lockdown. In Wellingborough, Wincanton Distribution - the largest British
logistics firm - was appointed a year ago to run the Co-op’s region- al 330,000 square foot distribution centre on Park Farm. Te initial three-year contract is to manage all warehouse and store delivery operations from the facility, to new and existing stores in the sur- rounding area. At the time the site employed around 500 staff and 170 drivers. Park Farm is also home to Bookers Retail Partners, which dis-
tributes from some 265,750 square feet. Approximately two years ago, Tesco’s £4billion takeover of the Booker brand was complet- ed, creating a new powerhouse in Britain’s £200billion-a-year food market. Booker also owns the Premier, Budgens, Family Shopper and Londis store brands that, during the coronavirus cri- sis, have been vital to many local communities in providing daily food essentials. Other third-party logistics companies operational on the estate
include Yusen Logistics, which moved into a purpose-built 379,000 square foot distribution centre at Prologis Park Wellingborough West last year. It will shortly to be joined by NNR Global Logistics and the Northamptonshire haulier Linkline. Tese occupiers are both commit- ted to take approximately 130,000 square feet each and are scheduled to move to the site later this year. As the high street has seen mass store clo-
sures from non-essential retailers including John Lewis, Dunelm and New Look - as ordered by the Government to combat the spread of virus - ecommerce is the last remaining income stream for many of these retailers. Wellingborough again is fortunate to be home to Monsoon Accessorize. Te global brand has a 262,000 square foot distribu- tion warehouse on Prologis Park Wellingborough - fronting the A45 - which helps to serve this mar- ket, together with Primark, located just down the road at Islip, where it operates from a one million square foot facility. On the back of ecommerce are the courier com-
panies, vital to getting goods to the end user. Again, Wellingborough’s economy is continuing with UK Mail, part DHL and Federal Express located on the Finedon Road Industrial Estate, and on Park Farm TNT - with DPD adding to the trio with a 45,000 square ft facility at Warth Park in Raunds. Wellingborough’s warehouse and industrial markets have, in recent years, only been curtailed
18 ALL THINGS BUSINESS
Logistics
helps sustain Wellingborough’s economy
Simon Toseland Director at Prop-Search
by a lack of new development that has constrained supply, and unfortunately new sites will now be delayed as a result of the virus. One such scheme in the pipeline is the first phase of a 1.5 million square foot development by St Modwen, through a collab- oration agreement with Bovis Homes. Tis is being promoted in the form of three warehouse facilities offering accommodation from 40,000 square feet to 275,000 square feet. Whilst the performance of the industrial sector
of the market will no doubt fall short of forecasts, it is still predicted to outperform the UK’s other property sectors; office and retail. And without a doubt, the current crisis only highlights the importance of this the sector in keeping not only the local economy going, but indeed in country, confirming the logistics market as the asset class of choice.
For further information, please contact: Samantha Jones, Prop-Search PR and Marketing Manager on 01933 223300 / 07990 547366.
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