M&S agrees deal for massive distribution hub
11 December 2013
Marks & Spencer has taken 647,000 sq ft of warehouse space at the Sheffield International Rail Freight Terminal in a move set to create more than 300 jobs.
Acting on behalf of the clothing and food retailer, CBRE Global Investors has secured a letting for two adjacent warehouses on a ten year full repairing and insuring lease. The quoting rent for the building is about £2.6m per annum.
The property is located off the M1, inside the Sheffield City Region Enterprise Zone and includes direct rail access.
M&S will be transfering visual merchandise, store equipment and home furniture from its 1.1 million sq ft distribution centre in Bradford to the Sheffield facility as part of a new logistics network project. It is anticipated that more than 300 jobs will be created when the distribution centre is open.
Rob Trevor, senior director at CBRE Global Investors, said: "This letting underlines the quality of the property and its location on the M1 corridor.
"It also reflects the current strength of the logistics market with the on-going take up of existing distribution space across the whole of the UK. We look forward to working closely with M&S as they embark on the fit out of the buildings over the next few months."