First phase of Icon Harlow logistics development fully occupied
Icon Industrial has let the final unit in the first phase of its GBP100 million speculative logistics development in Harlow.
Leading arts and crafts supplier, Baker Ross, has signed a 10-year lease on Unit B, a highly specified warehouse building with three-storey integral Grade A office space, at Icon Harlow in Essex.
The family run business supplies a wide variety of arts and crafts, and educational products to schools, groups and charities in the UK and Europe and employs 100 staff at its existing premises in Harlow. The company says that its new premises could create up to 50 new jobs.
Paul Baker, Director at Baker Ross, says: “We supply thousands of organisations each year and have seen significant growth in our ecommerce operations. We identified Icon Harlow as the ideal location to continue the development of our business and to facilitate our growth plans. These new state-of-the-art facilities will allow us to remain in Harlow and enable us to invest in the local area by expanding our workforce to around 150 people. We’re very much looking forward to moving in.”
Phase one of Icon Harlow was completed last year, and comprised three highly specified units, including two speculatively constructed. The letting of Unit B completes phase one and means that the whole scheme is now 80 per cent let or pre-let, with only one unit remaining.
Construction of a second phase of development is underway, which will deliver almost 200,000 sq ft of Grade A warehouse stock into the London-Stansted-Cambridge corridor.
Unit E is a speculative 112,000 sq ft warehouse and logistics facility, that will give occupiers the opportunity to take occupation of a new building in October 2021, to a base build specification. A second building, Unit D, is a bespoke last mile distribution unit of c86,000 sq ft, that is being developed on behalf of an end user.
Angus Huntley, Development Manager, Stoford, says: “It is very pleasing to have exchanged the letting to Baker Ross, who are a significant existing employer in Harlow. We have seen a noticeable increase in occupier demand for our speculative warehouse units across the UK, which is why we have taken a proactive approach by commencing the speculative development of a new building on phase two. Icon Harlow is conveniently located just 30 miles north of London and the recent lettings are a testament to the strength of the location for distributors looking to service the London to Cambridge corridor.”
Andy Hall, Partner at M1 Agency, says: “The scheme has attracted significant interest to date, resulting in successful lettings. These are testament to the quality of the product on offer at competitive rents in comparison to the wider South East market. We are looking forward to completing the scheme with the final unit and are actively working to identify an occupier.”