Co-op distribution centre to bring 1,200 new jobs to Biggleswade
PUBLISHED: 07:02 09 November 2018
A possible 1,200 new jobs are coming to Biggleswade after a major food retailer signed a deal to lease a regional distribution centre in the town.
A possible 1,200 new jobs are coming to Biggleswade after a major food retailer signed a deal to build a regional distribution centre in the town.
The Co-op Food Group signed an agreement to Lease with national logistics developer db symmetry to take a new 661,000 sq ft regional distribution centre at Symmetry Park, it was announced yesterday.
The new building – on the site located in Stratton Business Park – has been secured on the basis of a new 20 year lease at a rent of £7.10 per sq ft, creating the approximate figure of 1,200 new jobs and a boost to the local economy in excess of £90 million.
Councillor, Nigel Young, Executive member for regeneration and business at Central Bedfordshire Council said: “We are delighted to welcome a business of the calibre of the Co-op to the area bringing the significant number of jobs that will be created.
“We look forward to continuing to work closely with them and to support them over the coming years.”
Symmetry Park, Biggleswade extends to circa 50 acres was purchased by db symmetry in the Summer of 2017 and has subsequently been granted detailed planning consent for up to 1m sq ft of logistics space. It is anticipated that construction will commence towards the end of 2019.
The new 661,000 sq. ft. depot - to be located just off the A1 – will support the retailer’s ambitions for continued growth in London, the South and South East, with the Co-op anticipating investing upwards of £45m in fitting out the building.
Andy Perry, Co-op’s supply chain and logistics director, said: “The infrastructure and site selection will deliver greater agility, scale and efficiency – improving service and availability at existing stores while building capacity to support our store investment programme and ambitions for continued growth.”
Christian Matthews, Director at db symmetry, said: “Transactions such as this take many many months to reach fruition, and require all parties and their advisers to work closely together. While there is still much to do going forwards we are very pleased to have this opportunity to deliver a first class building for the Co-op.
“We would like to extend our thanks to CBC, which has been very supportive and has been part of the team attracting the Co-op to the scheme.”