Pets At Home prelets West Midlands warehouse

Pets At Home has prelet a 670,000 sq ft storage and distribution facility at Redhill Business Park in Stafford from Stoford Development. It has agreed a 20-year FRI lease from mid-2022 on the facility, which Stoford will finance and build. It will comprise a warehouse unit, three-storey office and two double-storey hub offices, as well as a recycling store and tote store. The retailer will also have an option on an additional 100,000 sq ft of expansion land if required. A planning application is expected to be submitted to Stafford Borough Council in September for the new facility, with construction, subject to planning approval, starting in 2021. Pets At Home currently operates out of a facility in Stoke and its 12-month fit-out programme, starting in mid-2022 would align with the expiry of the lease at that site. The fit-out of the new facility will cost £48m. The firm said the deal would allow it to consolidate its legacy infrastructure into a single, modern and well-located platform which would serve its stores and online orders as well as supporting its future growth. Stoford joint managing director Dan Gallagher said: “Redhill Business Park is an established facility that provides a superb central location for a new development of this scale, with excellent motorway connections and a host of household occupiers nearby. The proposed arrival of Pets at Home demonstrates that deals of this scale and nature are still possible, in spite of the challenging environment.” Colliers International advised Pets at Home. To send feedback, e-mail louise.dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette