16th Mar 2005 09:57
British Land Co PLC16 March 2005 16 March 2005 BRITISH LAND/ROSEMOUND JV LETS 750,000 SQ FT TO TESCO AT DIRFT, DAVENTRY The British Land Company PLC and Rosemound Developments Limited joint venturehas secured a major pre-let to Tesco at DIRFT, Daventry. The British Land/Rosemound joint venture is to build a 750,000 sq ft (70,000 sqm) distribution warehouse, including 35,000 sq ft of offices, for Tesco StoresLimited which has taken a 15 year lease. Construction will start immediately andthe building, with a clear height of 64 ft (19.5 metres) and 97 docking points,will be complete by November 2005 allowing it to be operational beforeChristmas. This letting takes the total space pre-let on the JV's 74 acre freehold site atDIRFT to 1.05 million sq ft in the year since British Land/Rosemound acquiredthe site in March 2004. David Keir, Managing Director of Rosemound, says, "We are delighted to announcethis pre-let. We acquired DIRFT this time last year and on top of the Exel/Mothercare transaction for 300,000 sq ft in November 2004, this reinforces DIRFTas one of the country's top distribution locations." Nigel Webb, Head of Developments at British Land, says, "We are very pleased tohave secured a further pre-letting so soon after acquiring this site. Thisletting further reinforces DIRFT's status as one of the Country's leadingdistribution locations and is a further example of BL Rosemound's ability tosecure major pre-lets." M3 and Savills represented British Land/Rosemound. Lambert Smith Hamptonrepresented Tesco Stores. Contacts The British Land Company PLC:John Weston Smith, Chief Operating Officer Tel: 020 7467 2899Nigel Webb, Head of Developments Tel: 020 7467 2860 Finsbury:Edward Orlebar Tel: 020 7251 3801 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
British Land