Clearbell Capital LLP on behalf of its client CP Real Estate Limited, announces the letting to XPand Logistics of its 56,850 sq ft warehouse in Basildon.

The new warehouse, located within Festival Leisure Park was completed in September 2019 and offers Grade A logistics space within close proximity to the A127 and M25.

The redevelopment commenced in 2018 and has been built to BREEAM Very Good certification.

Xpand Logistics, an international freight and logistics company, has signed a 10 year lease for the building.

Adam James, Senior Asset Manager at Clearbell Capital, said:

“Grade-A logistics space in good locations continues to be attractive. XPand Logistics’ long-term commitment is evidence of ongoing demand for more space in strong markets despite political uncertainty.”

David Osborn, Director at XPand Logistics Ltd, said:

“With the continued demand for additional warehousing space, we are pleased to be consolidating our operations by occupying this brand new facility in Basildon. Its close proximity to Felixstowe and London Gateway enables us to continue to grow our services with our customers and overseas partners, and reaffirms our commitment to this important region of the UK.”

The property is owned by CP Real Estate Limited and the transaction was advised by Glenny and Savills.