Tritax Big Box has received outline planning approval to build 2.31 million square feet of logistics space at Symmetry Park in Kettering.
The outline planning permission represents the second new development from the DB Symmetry strategic land portfolio acquired by the company in February this year.
This development site extends to a total of 136 acres and is one of the few sites in the East Midlands that can accommodate a single logistics asset in excess of one million square feet. The site has good road connectivity, located directly alongside the A14 “Trans-European” freight route.
It will also deliver the first phase of the Isham bypass which will see the joining and dualling of the A509 from Junction 9 of the A14 to the site entrance. This will help the area to become an increasingly important UK distribution location.
The area benefits from a skilled and flexible labour supply within close proximity and the new logistics park would be a major contributor towards Kettering’s planned economic growth. It is hoped that the development will create up to 2,800 jobs.
Colin Godfrey, partner of Tritax, said “We are pleased to have secured outline planning consent for this significant, well-located logistics development scheme at Symmetry Park, Kettering. This represents the second planning success from the db Symmetry portfolio acquired by the company in February 2019, following on from the 660,000 st ft detailed planning consent secured on behalf of The Co-op Food Group at Biggleswade”.
“We have already commenced work on the planning application for the associated infrastructure and first phase of development and we look forward to continuing to engage with the local community as our proposals progress”.
“This new logistics park has the potential to provide an attractive yield on cost within our target range and, once fully developed, will bring significant employment opportunities and strengthen further the area’s economic growth”.
31 May 2019