Tritax Big Box Developments (TBBD) has secured an Agreement for Lease (AFL) with parcel delivery giant DPD for a new highly sustainable parcel distribution hub at Tritax Park Queens’ Cambridge. This 63,000 sq ft purpose-built facility will form part of a major new logistics, advanced manufacturing and employment location serving the Cambridge area and the wider region.
With the AFL in place and the public consultation completed, TBBD will submit a detailed planning application to South Cambridgeshire District Council later in the year comprising c.892,000 sq ft (82,868 sq m) of B2/B8 development across five units.
The developer is committed to designing and developing low-carbon, energy-efficient buildings targeting EPC A+ and BREEAM Excellent and there are also plans to deliver additional community facilities to support the local residents.
Tritax Park Queens’ Cambridge spans a 304-acre site, adjacent to the A14 Bar Hill Interchange at Junction 25 of the newly upgraded A14, which is part of the UK’s strategic road network.
Tom Kennedy, Associate Development Director at Tritax Big Box Developments, said: “DPD is a long-standing client of TBBD’s having developed their first outstanding Net Zero Carbon in Construction facility in Bicester and we are encouraged to see such strong support from them for this proposed scheme. Greater Cambridgeshire urgently requires more space to support the region’s growth, as recognised in the Council’s own evidence base, and Tritax Park Queens’ Cambridge will help cater for this demand with flexible logistics and advanced manufacturing space for a wide range of businesses.”
Louise Ferguson, General Manager, Property at DPD, continued: “Having undertaken a comprehensive search of a new site to serve the Cambridgeshire area, we believe Tritax Park Queens’ Cambridge meets our stringent criteria – both in terms of ESG credentials and location. TBBD’s commitment to design low-carbon buildings with high green building certifications is in line with our pledge to become the UK’s most sustainable delivery service provider and we look forward to working closely with TBBD to bring this site forward.”
DPD’s aim is to be the most sustainable delivery company in the UK and, as part of Geopost, DPD has a Science Based Target initiative (SBTi) validated target to be Net Zero by 2040.
Currently 36% of DPD UK’s delivery van fleet is electric, while HVO (Hydrogenated Vegetable Oil) is used for a proportion of the year in the HGV fleet, which can reduce engine emissions by 83% compared to diesel. DPD's decarbonisation activities also involve switching to 100% renewable electricity and electrifying the company car fleet. The DPD Eco Fund supports biodiversity and climate resilience projects both nationally and internationally.
Joe Reubin of SBH is acting for DPD.
ENDS
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Notes to Editor
About Tritax Big Box Developments
Tritax Big Box Developments (TBBD) is a Tritax Big Box REIT associated company dedicated to logistics development. TBBD specialises in identifying and securing strategic land, developing large-scale, best-in-class logistics facilities that meet the evolving needs of modern businesses.
Tritax Big Box REIT plc
About Tritax Big Box REIT plc
Tritax Big Box REIT plc (ticker: BBOX) is the largest listed investor in high-quality logistics warehouse assets and controls the largest logistics-focused land platform in the UK. Tritax Big Box targets attractive and sustainable returns for shareholders by investing in and actively managing existing built investments and land suitable for logistics development. The Company focuses on well-located, modern logistics assets, typically let to institutional-grade clients on long-term leases with upward-only rent reviews and geographic and client diversification throughout the UK. Additionally, having adopted a “power first” approach, the Company has recently secured its first data centre development opportunities (amounting to over 250MW), and has a pipeline of c.1-gigawatt of further opportunities, offering the potential to deliver exceptional returns on an accelerated basis.
The Company is a real estate investment trust to which Part 12 of the UK Corporation Tax Act 2010 applies, is listed on the Official List of the UK Financial Conduct Authority and is a constituent of the FTSE 100, FTSE EPRA/NAREIT and MSCI indices.
Further information on Tritax Big Box REIT is available at tritaxbigbox.co.uk
