Logicor ties up 800,000 sq ft Daventry deal with Farmfoods

The industrial specialist has fully let its largest UK development to the discount supermarket group.

Farmfoods, an existing Logicor customer, has signed a 25-year lease for all three speculatively built units at Logicor Park Daventry.

This signing is in addition to the 20-year lease signed with Farmfoods in 2020 for 262,000 sq ft in Solihull.

Farmfoods will use the three units for frozen and ambient storage, transportation and recycling.

Logicor Park Daventry, in a traditionally strong area for the UK’s logistics industry, was acquired in 2021, when it was occupied by third party logistics operator XPO and clocked in at 951,000 sq ft, sitting within a 38-acre site.

Taking the asset on from a joint venture fronted by Oxenwood Real Estate, Logicor then undertook a full reconfiguration, splitting it from one to three units to add flexibility as BREEAM Excellent status was sought and achieved.

Anthony McCluskie, senior director of asset management UK at Logicor, said: “We’re delighted to have signed a record-length lease on this first-class asset with our existing customer, Farmfoods.

“Our ongoing and close engagement, meant that we understood their requirements necessary for growth across the UK, and as Logicor Park Daventry, our flagship UK development, was speculatively built, we had a building immediately available, and suitable, that would meet their needs.”

In addition to Logicor Park Daventry, the big shed specialist has recently delivered Derby507, a 507,000sq ft development and Bolt 330, a 330, 000 sq ft asset in Salford – which it is following up with a smaller unit nearby.

Headquartered in London and Luxembourg, Logicor focuses on large-scale logistics assets close to major population centres across Europe. It has a portfolio of more than 200m sq ft.