Gazeley Properties - General - Best Industrial / Distribution Deal

Date: 08 Oct 2002

Gazeley Properties scooped one of the property industry’s top accolades at the 2002 IAS / OAS Awards last week (1.10.02).

The awards, which recognise excellence in design and construction as well as subsequent profitability, were jointly organised by the Industrial Agents Society, the Office Agents Society and Property Week.

Gazeley won the Best Industrial/Distribution Deal of the Year category - sponsored by Brixton – for TNT’s FastTrack transaction at Magna Park, Gazeley’s flagship scheme located in Lutterworth, Leicestershire.

Gazeley entered an agreement to deliver the first phase of a new 38,275 sq m (412,000 sq ft) distribution centre for TNT UK Ltd in an amazing 12 week construction period. Using Gazeley’s revolutionary FastTrack building concept the facility was built on time and in budget without compromising safety.

On 6 August 2001, 12 weeks after construction works started on site, the distribution centre was operational.

The unit was pre-let to TNT for occupation by their subsidiary TNT Retail Services for a term of 15 years in order to service an urgent requirement for value-for-money fashion retailer Primark.

Letting agents for Magna Park are Fuller Peiser and Lambert Smith Hampton, while TNT was represented by CRCL.

Katie Hughes development director for Gazeley commented:
“It was a great team effort to make FastTrack work. It is an outstanding product that meant we secured and delivered the TNT deal against the odds.”

Where do I go now?: » View the latest news items » View the news archive » Subscribe to Weekly Property Newsletter » Submit news