Avison Young helps Chinese ecommerce business secure first UK warehouseDecember 14, 2021
Prologis, the developer and owner of logistics parks, has agreed a lease with Furnolic Co., the UK subsidiary of Ziel Group, for the latest unit at Prologis Park Ryton in Warwickshire.
The 10-year lease for the 148,461 sq ft unit is Furnolic’s first physical site in the UK.
The business, which also trades under the name Songmics, Vasagle and Feandrea, specialises in homeware, furniture and pet furniture and is one of the largest global retailers on Amazon, operating across the US), Germany, Japan, France, Spain, Italy, Canada, and Mexico.
Current occupiers at Prologis Park Ryton include Jaguar Land Rover, DHL and LEVC.
Robert Rae, Principal & Managing Director, Industrial at Avison Young, said:
“The letting under construction of this Grade A warehouse further underlines the demand for high quality warehousing across the country. Prologis Ryton is a prime site and has been very successful with the last plot of 330,000 sq. ft now under construction for completion in the summer.”
Tom Price, capital leasing and development director, at Prologis UK, said:
“This is an important milestone for Furnolic as they secure their first location in the UK, and we are delighted to be welcoming another occupier to this prime logistics site. Furnolic is a valued global Prologis customer, and we are aiming to make the move to the new site a seamless and positive experience for the business.
“The attractiveness of Prologis Park Ryton, and the Midlands in general, as a location for logistics facilities, is clear. Companies of all shapes and sizes are recognising the value that the area holds as a means of expanding or further strengthening their e-commerce and delivery operations.”
Avison Young, JLL and M1 Agency acted for Prologis, and Furnolic was represented by Realogis.