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The Range seals huge distribution centre deal

Rapidly growing home and garden products retailer The Range has agreed a huge letting deal in South Yorkshire - one of the largest warehouse lettings in the UK this year.

The company, headquartered in Plymouth, will base its national distribution centre at Nimbus Park in Doncaster on a site previously occupied by logistics giant DHL.

CDS (Superstores International Ltd), which trades as The Range, has taken a 750,431 sq ft warehouse on a 20-year lease. The quoting rent for the building was £4 per sq ft.

The retailer posted a 19 per cent increase in turnover to almost £300m in its latest financial results and said its growth was being primarily driven by an increase in retail outlets during the year to 29 January 2012.

The Range upped turnover to £296.6m in the period, compared with £249.4m in the previous year. Pre-tax profit also grew, from £20.3m in 2011 to £26m this year.

The warehouse deal was brokered by CBRE Global Investors.

Ian Harris, senior director at CBRE, said: "This letting, I believe, is one of the most significant of this year and we are delighted to have secured The Range as a tenant.

"Nimbus is a unique building in the market both in terms of its size and the fact that we were able to secure the fit out from the previous tenant, DHL.

"These factors, together with the location which gives access to the motorway network and the east coast ports, mean that it fits The Range's requirements for its National Distribution Centre and will support the growth of the business going forward."

The fully fitted warehouse is located adjacent to the M18 just north of Doncaster which is located at the intersection of the M62, M18 and A1(M).

Source : Insider Media

24 October 2012
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