Gazeley Announces Largest U.K. Pre-Let in Two Years with Leading Grocery Retailer Waitrose for a New 940,000 SF National Distribution Centre

Building will be developed at Magna Park Milton Keynes, Gazeley's flagship UK logistics park and serve as Waitrose’s new national distribution centre supplying its rapidly expanding network of supermarkets and convenience stores throughout the United Kingdom

LONDON, 20 March 2014 – Gazeley, a leading global investor and developer of logistics warehouses and distribution warehouses has today announced a deal signed with leading U.K. grocery retailer Waitrose to develop a new 940,000 sq. ft. national distribution centre.

The building which will be developed at Magna Park Milton Keynes, Gazeley’s flagship U.K. Logistics park will serve as Waitrose’s new national distribution centre supplying its rapidly expanding network of supermarkets and convenience stores throughout the United Kingdom. The giant new distribution centre will become one of the UK’s largest ever distribution centres constructed, covering a site of 45 acres.  

Speaking about the deal, Gazeley CEO Pat McGillyCuddy said, “We are absolutely delighted to have been chosen by Waitrose to deliver their first ever new national distribution centre. There is no better endorsement of our quality of service, delivery capability and product than repeat business with customers who see Gazeley as a trusted partner.   

This will be the third building for the John Lewis Partnership, so far providing them with in excess of 2.3 million sq. ft. of grade A distribution space to fuel the next phase of their rapid U.K. growth and expansion. 

We are proud to be part of the growing Brookfield global logistics platform that along with U.S. based IDI gives us global scale to serve customers and grow our business.”

Also commenting on the deal David Jones, Supply Chain Director at Waitrose said, “The decision to open our first National Distribution Centre marks a pivotal moment in our supply chain history and reflects our phenomenal growth.

Waitrose has outperformed the market for five years and we have ambitious plans to open 38 shops in 2014 and continue to expand our online platform.

By simplifying our supply chain, we improve its resilience and greatly improve our ability to serve our branches now and in the future.

We are pleased to be partnering with Gazeley for the development of this important new building for Waitrose. We have agreed an ambitious, rapid-build programme with Gazeley and are hoping for it to be operational by the summer of 2015."

Construction started on site at the beginning of March and is expected to take 9 months, with completion due to be at the start of November 2014. Thereafter fit-out will commence with the building expected to become operational during 2015.

Magna Park Milton Keynes is Gazeley’s flagship U.K. logistics park, already accommodating two million sq ft for John Lewis, River Island and AG Barr plc. Following the deal with Waitrose the remaining 80 acres of land can accommodate up to 900,000 sq. ft. of industrial and distribution space.

About Gazeley
Gazeley, a leading global investor and developer of sustainable logistics warehouses and distribution parks, is part of the Brookfield Property Partners Group and, along with Industrial Developments International (IDI), based in Atlanta GA, forms a global industrial platform.

Gazeley has operational platforms in the UK, Asia, and Continental Europe and, through IDI, North America. It is one of the world’s longest running developers of high quality, cost effective “Build-to-Suit” logistics warehouses that accommodate many of the world’s leading brands and largest companies.

Its customers come from across the retail/FMCG, transport and logistics, industrial, pharmaceutical and manufacturing sectors and include Walmart, P&G, Amazon, adidas, John Lewis, Tesco, H&M, DHL and Volkswagen.

In partnership with IDI, Gazeley currently owns and operates a combined global industrial property portfolio comprising of approximately 68 million sq ft of occupied industrial warehouse space with an additional 79 million sq ft of assets under development.

To date the company has developed in excess of 75 million sq ft of sustainable warehouse space for over 130 customers worldwide and currently controls a land-bank of 1,050 hectares.

Gazeley is among the foremost pioneers of environmentally sustainable warehouse development and is committed to delivering high quality buildings that are cheaper to operate and maintain, that also meet and exceed the world’s most stringent sustainable development standards.

About Brookfield Property Partners
Brookfield Property Partners is a global commercial real estate owner, operator and investor. Our diversified portfolio includes interests in over 300 office and retail properties encompassing approximately 250 million square feet. In addition, we have interests in over 25,500 multi-family units and 19 million square foot office development pipeline. Our goal is to be the leading global investor in best in class commercial property assets.

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About Waitrose
Waitrose, Britain's favourite supermarket,* has 307 shops in the UK and Channel Islands and has consistently achieved sales growth significantly ahead of the market.** Its strong performance has been driven by the success of the essential Waitrose range, Brand Price Match, the success of the myWaitrose card and free delivery for online shopping, as well as a long-term commitment to sourcing the UK's finest local and regional foods. Waitrose combines the convenience of a supermarket with the expertise and service of a specialist shop - dedicated to offering quality food that has been responsibly sourced combined with high standards of customer service.

* Favourite Food & Grocery Retailer at Verdict's annual Consumer Satisfaction Awards; Favourite Supermarket at Good Housekeeping Awards
** Kantar Worldpanel


Reed Barrickman

Europa en Verder
Ged Brumby
Smithfield Consultants
+(0)20 7903 0674

Rob Yates
Smithfield Consultants
+(0)20 7903 0625