Tritax Big Box Developments (TBBD) has submitted a planning application to bring forward the next phase of development at Symmetry Park Rugby.
The 1.4 million sq ft hybrid application includes a detailed proposal for a 300,000 sq ft logistics unit and the creation of Cawston Landscape Park (CLP), a 20-acre green space featuring new footpaths linked to existing public rights of way, communal orchards with edible planting, and levelled areas for informal sports and play.
Symmetry Park is already home to Iron Mountain, which occupies 1 million sq ft. This initial commitment in 2022 marked the launch of its first UK campus to offer a wide range of services.
In July this year, TBBD completed the letting of unit 5, a speculatively built 391,000 sq ft facility to a data management company on a 15-year lease.
Two further speculatively developed facilities remain available comprising 338,064 sq ft (unit 6) and 170,473 sq ft (unit 7) on a leasehold basis. The buildings have been built to net-zero carbon in construction standards and have a BREEAM “Excellent” and EPC A+ rating.
Joseph Skinner, development director at TBBD, explained: “Located at the heart of the logistics Golden Triangle, Rugby represents an established major distribution and manufacturing location. Organisations who choose to be based here can benefit from access to a highly skilled work force, as well as access to major infrastructure routes. The creation of the new park will provide addional amenities to the public and we look forward in working in partnership with local stakeholders to bring this forward.
“With Iron Mountain already operating here and strong occupational market demand, we believe it is the opportune time to bring forward this next phase. Subject to planning approval, the site will be developed on a speculative / design and build basis with units up to 1 million sq ft available.”
The site forms part of the wider South West Rugby Urban Extension which will also add 5,000 new homes, bringing forward further labour and amenity benefits.
The project team includes Framptons Town Planning (Planning Consultants), EDP (Ecology and Landscaping), Stantec (Highways and Transport), Tier Consult (Civil and Structural Engineers), Rider Levitt Bucknall (Project Manager), McBains (Quantity Surveyor), Ridge (BREEAM), Basepower (Utilites) and MBA (M&E).
Colliers International & ILP Partners are letting agents for Rugby.
ENDS
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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
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 is committed to delivering 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 272MW), and has a pipeline of over 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 250, FTSE EPRA/NAREIT and MSCI indices.
Further information on Tritax Big Box REIT is available at www.tritaxbigbox.co.uk
See www.tritaxbigbox.co.uk for more information.
