Logicor facilitates Clipper’s growth requirements
01 Feb 21
Logicor’s UK asset management team utilised their extensive UK portfolio to complete a three-way deal at Sherburn 667. This enabled the previous tenant to dispose of the space, Clipper Logistics to acquire new space to serve its e-commerce contracts and Logicor to successfully and efficiently conclude their largest letting to date, which was also the largest leasing of an existing warehouse building in 2020.
Logicor Sherburn 667 is a 666,898 sq ft warehouse unit located in Sherburn, near Leeds and close to the A1(M)/M62 in a strategic logistics location.
The building was let to Debenhams on a lease expiring in February 2022, however Debenhams no longer required the space.
Due to the unique set up and fit out of the warehouse space, which was very much suited to the e-commerce sector, Logicor used its wide customer knowledge to identify and approach a handful of our e-commerce customers and connections to discover whether Sherburn 667 was suitable for their current and future distribution requirements.
The warehouse is fitted out with 450,000 sq ft of mezzanine space, taking the total flooring to over 1 million sq ft, with the reminder of the space set with racking. The layout was perfect for swift picking requirements of a fast-moving e-commerce fulfilment business.
Clipper Logistics, an existing Logicor customer, had an urgent requirement for fitted space to serve an e-commerce contract in the Yorkshire region. Clipper knows the area well having its HQ in Yorkshire and an existing facility with Logicor at Sheffield 615 to serve its PrettyLittleThing.com contract. With the building already fitted out and the company’s in-depth knowledge of the Yorkshire workforce to carry out its contract, Sherburn 667 was the perfect solution.
Logicor was able to facilitate Debenhams’ exit of the building and sign a new lease with Clipper Logistics for the 666,898 sq ft logistics facility, the largest letting within our UK portfolio to date.
Clipper Logistics has subsequently pledged to turn Sherburn 667 into a centre of excellent as a strategic acquisition for their portfolio.
Tony Mannix, CEO of Clipper Logistics, said: “I am delighted to report that Clipper have added the Sherburn site to its portfolio and have further extended our relationship with Logicor. We have seen unprecedented growth in our e-commerce operations in recent months and the Sherburn site will be a key site within the Clipper network to facilitate our growth plans as we continue to support both new and existing customers.
“Clipper remains at the forefront of innovation in the retail logistics sector and the Sherburn site will quickly become our centre of excellent with the planned introduction of automation and robotics as we continue to deliver world class solutions for our customers.”
Anthony McCluskie, Logicor’s Director, Asset Management, UK, comments: “We are delighted to have concluded this letting to Clipper Logistics - the largest letting in 2020 of an existing building and the largest letting we have signed to date within our UK portfolio, as a result of our proactive management and excellent customer connections.”
Charlie Howard, Logicor’s Managing Director, UK, comments: “This is our second letting to Clipper Logistics, following the letting of Sheffield 615 in 2018. We are very pleased to have been able to build on our existing relationship with Clipper and accommodate their requirements in the UK for their e-commerce fulfilment.”