Acting on behalf of LGIM Real Assets (Legal & General Investment Management), Glenny has leased the final two units at Boxset Basildon in a deal totalling almost 140,000 sq ft.
Boxset Basildon is a speculative development of 3 high specification and energy efficient warehouse buildings, featuring first floor offices complete with heating, cooling and ventilation. Generous deep yards from 48-57m, tall eaves heights of 12m, electric car charging points and photovoltaic arrays are also provided.
The development boasts excellent communication links with both the nearby A127 and A13 connecting with the M25 Junction 29 and is close to the seaports of London Gateway, Tilbury and Felixstowe and the airports of London Southend and Stansted.
Jim O’Connell, Divisional Partner at Glenny, comments: “We’ve officially wrapped production at Boxset Basildon and leased the last remaining units at this prime development.
“Setting standards for sustainability, Boxset Basildon has been built with the future in mind with a range of features designed to make this one of the region’s most efficient developments.”
Rob Codling, Senior Fund Manager, LGIM Real Assets, adds: “The industrials and logistics sectors have undoubtedly weathered the storm of the pandemic, proving a highly resilient sector. We are delighted to complete the final lettings at Boxset Basildon which underpins our investment conviction to purchase vacant best in class urban logistics during 2020 and conclude a successful letting campaign.
“Boxset Basildon is a stand-out asset and fully fit for the future. Accelerating our wider commitment to net zero by 2050, sustainability is provided as standard with EPC A and BREEAM Excellent ratings. LGIM Real Assets continues to drive the ESG agenda, as well as deliver long term value for its investors, and Boxset Basildon is testament to this.”
Glenny acted as joint agents with CBRE and Avison Young.