Great Bear Distribution agrees huge Sheffield let
27 March 2014
Great Bear Distribution, a third party UK logistics company, has agreed to let a 412,519 sq ft space at LPP Sheffield, located within the Sheffield City Region Enterprise Zone.
The Logistics Property Partnership (LPP), a joint venture between SEGRO and Moorfield Real Estate Fund II, has let the facility for a period of 15 years.
Great Bear said it had chosen LPP Sheffield as the location for its new distribution network in the UK due to its proximity to major motorways, quality of product and size of yard. The company already manages more than four million sq ft of warehouse space and operates a large modern commercial vehicle fleet.
Gareth Osborn, business unit director for Thames Valley and national logistics at SEGRO, said: "The deal with Great Bear demonstrates the demand in the market for grade A accommodation and with LPP Sheffield we were in the position to deliver high quality space immediately to satisfy demand.
Charles Ferguson Davie, chief investment officer for Moorfield Group, added: "LPP Sheffield was one of the few remaining available high quality warehouse facilities in the UK and we are pleased to have let the facility in its entirety to Great Bear. LPP is a strategic investment for Moorfield in the logistics sector."