Tritax Symmetry, the dedicated logistics developer of Tritax Big Box REIT plc (TBBR), has secured planning consent for a new parcel distribution facility for DPD at Symmetry Park, Bicester. The specialist 60,000 sq ft distribution hub will be constructed to net zero carbon in construction in one with the UK Green Building Council’s (UKGBC) Framework.
Cherwell District Council (CDC) has given planning consent for what will be DPD’s 36th new format hub built in the UK since 2011, which will be delivered as an additional phase of the established Park. The developer’s commitment to achieve a net zero carbon building in construction is in line with DPD’s pledge to become the UK’s most sustainable delivery service provider.
DPD operates a net zero carbon delivery model and aims to be the greenest delivery company in the UK. With over 600 electric vehicles, equal to 10% of its fleet, DPD leads the parcel sector on the move to sustainable logistics and has launched a raft of other initiatives including energy and waste management, green packaging, smart urban delivery models and the DPD Eco Fund for schools and educational facilities across the UK working on green projects.
This deal will see DPD relocate its existing operation in Bicester, and once fully operational, the new facility could create up to 250 new jobs.
Symmetry Park is already home to Bentley Designs and Medline Services with the newly completed Unit B (163,664 sq ft) available for immediate occupation. In addition, plot C is available with detailed planning consent for a unit of 334,000 sq ft.
Speaking about the agreement, Tom Leeming, Development Director at Tritax Symmetry commented:
“We are thrilled to have met DPD’s specific requirements to deliver a highly sustainable net zero carbon design and build solution to support their on going expansion, especially during these challenging times. The economic impact through the construction period and permanent jobs created at the site will be felt as an immediate boost to the local economy at a time when all business investment should be welcomed. We thank CDC and OCC for their continued support and pragmatic approach.
“DPD’s commitment to become the UK’s most sustainable delivery company is aligned to our own sustainability policy. As a business, we are factoring in environmental considerations into every aspect of our development plans, from electric vehicle charging facilities and energy centres to photo voltaic generation and other energy saving initiatives. With planning now secured, we look forward to appointing a contractor imminently and delivering a state of the art net zero carbon unit for our client.”
Louise Ferguson, General Manager, Property at DPD continued:
“Our new Bicester distribution centre will be a state of the art, purpose-built facility. We already know what a fantastic location Bicester is, and Symmetry Park gives us more room and even better transport links. This investment will allow us to expand our existing operation to meet the growing demand for our services, create a significant number of new jobs and give us space to carry on growing for a number of years.”
Colin Godfrey, CEO – Fund Management at Tritax Big Box REIT, commented:
“I am pleased that we have secured planning consent for this new state of the art parcel distribution facility for DPD at Symmetry Park, Bicester. Awareness of climate change is on the rise and the property sector has a huge role to play in reducing carbon emissions, so we are delighted to see this type of leadership and commitment from DPD and to be working collaboratively with them to responsibly deliver this cleaner, more sustainable logistics asset.”
Symmetry is the dedicated logistics developer of Tritax Big Box REIT plc (TBBR).
For further information, please contact:
Colin Godfrey (CEO, Fund Management)
via Maitland/AMO below
Maitland/AMO (Communications Adviser)
Tel: 020 7379 5151
Jefferies International Limited
Tel: 020 7029 8000
Tel: 020 7493 3631
The Company’s LEI is: 213800L6X88MIYPVR714
Tritax Big Box REIT plc is the only listed vehicle dedicated to investing in very large logistics warehouse assets (“Big Boxes”) in the UK and is committed to delivering attractive and sustainable returns for shareholders. Investing in and actively managing existing built investments, land suitable for Big Box development and developments predominantly delivered through a pre-let forward funded basis, the Company focuses on large, well-located, modern Big Box logistics assets, let to institutional-grade tenants on long-term leases (typically at least 12 years in length) with upward-only rent reviews and geographic and tenant diversification throughout the UK. The Company seeks to exploit the significant opportunity in this sub-sector of the UK logistics market owing to strong tenant demand and limited supply of Big Boxes.
The Company is a real estate investment trust to which Part 12 of the UK Corporation Tax Act 2010 applies (“REIT”), is listed on the premium segment of the Official List of the UK Financial Conduct Authority and is a constituent of the FTSE 250, FTSE EPRA/NAREIT and MSCI indices.
Further information on Tritax Big Box REIT is available at www.tritaxbigbox.co.uk