New Waitrose ‘super shed’ will cost £114 million

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Funding has been agreed for a massive new warehouse at Magna Park to be let for 30 years to Waitrose.

The sky-coloured 938,449 sq ft unit is being developed this summer by Gazeley, which owns distribution parks globally.

The company is confident that it will take just six months to build.

Waitrose’s parent company John Lewis already occupies two warehouses totalling more than 1.3 million sq ft on the Magna Park site.

Legal and General will be funding the construction of the new warehouse on behalf of its annuity fund.

The development is due for completion in November and is expected to secure an environmental rating of excellent.

It will encompass three levels, a gatehouse, secure yards and parking for 530 cars and 231 lorries.

Magna Park has 220 acres earmarked for development and half of it is already filled .

Among the tenants are major names such as River Island and Barrs Soft Drinks.

Legal and General Property spokesman Adam Kerr said the funding represented a rare opportunity to fund a strategically located “super shed” capable of delivering the quantum of space demanded by a top retailer,

He added: “Magna Park in MK has become the leading logistics park in the UK due to its easy access to London and the wider south east.”