Saturday, June 6, 2020

Alloga continues local expansion with 250,000ft² of warhouse space at Castlewood

Alloga is continuing it local expansion with the lease of a prime Grade A warehouse at Castlewood.

Having developed out over 1.5 million sq ft of space at Castlewood, CWC Group and their agents Tim Gilbertson of FHP and Ranjit Gill of Savills are delighted by the news.

The deal sees Alloga lease a further 250,000ft² on the site, taking their occupation at Castlewood to over 750,000ft² of prime distribution space adjoining the M1 at Junction 28 and the A38.

Development Director at CWC, James Richards said: “Like Castlewood itself, Alloga’s expansion has been a terrific success story. On our 120 acre site Alloga now occupy three buildings totalling over 750,000ft² and our success has gone hand in hand with their growth.

“With the site augmented a year or two ago with the addition of further facilities to include petrol filling station, Costa drive-thru, convenience store and Greggs outlet, we have seen even more interest come forward and more deals be agreed.  The strength of demand has seen us now also speculatively construct a 72,000ft² warehouse where we hope to bring forward good news shortly as that nears completion whilst our agents continue to bring us design and build deals.

“Castlewood has always attracted not only the ‘big box distributor’ as Alloga are joined by the Co-op amongst others for distribution on the site but we have also managed to attract smaller scale manufacturing occupiers such as Parker Knoll, Midland Aerospace and Bombardier.

“With further deals hopefully to come later this year the site goes from strength to strength and perhaps most pleasingly of all given the scale of Castlewood we can still offer buildings from as little as 20,000ft² to over 200,000ft² to purchase or rent.  The ability to offer both sales and lettings of completed buildings being key as many of the competing sites in the region are only interested in leasehold disposals.”

Agent for the scheme, Tim Gilbertson of FHP added: “CWC should be applauded in their approach to Castlewood, it is a pleasure to work with them on this scheme to see the site grow and blossom over the years.

“As James Richards mentions we have attracted not only big box distributors but also smaller manufacturing companies and indeed the range of occupiers includes local businesses through to Plc tenants. Our speculative unit of 72,000ft² continues to attract interest and hopefully there will be good news to announce there shortly but also we can still offer design and build opportunities for local occupiers through to the biggest box requirements.”

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