Sizewell C has agreed the lease of Orwell Logistics Park (OLP) in Ipswich, owned by BGO and delivered by Equation Properties, representing one of the largest letting transactions in the UK.
After securing its Nuclear Site Licence earlier this year, with work progressing on site and a Financial Investment Decision expected this year, this latest transaction is a significant milestone that will play a crucial role in supporting the supply chain requirements for the construction of the power station.
The 1.08m SQ FT site will also be the new location for Sizewell C’s Freight Management Facility (FMF), which will ensure a controlled pattern of deliveries to the Sizewell C site, enabling reduced movements during peak or sensitive hours. Sizewell C will occupy two completed units on the site, as well as agreeing to pre-let the remaining units and open storage plot.
Nigel Cann, Sizewell C Joint Managing Director, said: “After starting formal construction this year, this is yet another big step forward for Sizewell C. Orwell Logistics Park is an excellent solution for our logistics and freight management – and it will be a crucial location for us as we begin the gradual ramp-up to peak construction over the next five years.”
Orwell Logistics Park, acquired by BGO with Development Partner Equation Properties in December 2020, is a new industrial/distribution development strategically located on the A14 between Ipswich and the Port of Felixstowe, one of the UK’s largest deepwater ports which accounts for almost 50% of all containerised trade in the country. The site spans a total of 60 acres with a total floor area of just under 1.1m SQ FT.
The recently completed Phase 1 was speculatively developed and comprises units of 301,214 SQ FT and 256,255 SQ FT. The to-be-developed units consist of two additional buildings of 500,000 SQ FT and 25,335 SQ FT respectively, along with 5.34 acres of open storage.
Sizewell C will take immediate occupation of Phase 1 in Q3 2024, with TSL appointed as main contractor for delivery of Phase 2 with completion due Summer 2025.
Gareth Purcell, Managing Partner at BGO, said: “We are thrilled to welcome Sizewell C to Orwell Logistics Park and support the supply chain for this critical piece of national energy infrastructure. This major letting demonstrates the continued delivery across our Grade-A, UK logistics platform.”
Richard Batham-Read, Managing Director at Equation Properties, said: “The commitment from Sizewell C is a major validation for the vision we have had for this project, underpinning our belief in the location representing a great opportunity to capitalise on the strategic highway network and occupational requirements emanating from Port activities.”
Taylor Wessing solicitors advised BGO and Equation Properties, with Penn Commercial, M1 Agency and JLL appointed letting agents. Gerald Eve advised Sizewell C.
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