24th August 2020
CBRE GI PRELETS 196,000 Sq Ft ESSEX LOGISTICS HUB TO GOUSTO
CBRE Global Investors, on behalf of the CBRE UK Property PAIF, has prelet an 196,178 sq ft cold store facility at West Thurrock in Essex to recipe box company Gousto on a 10-year term.
Chillbox is a temperature-controlled facility and has undergone a significant refurbishment including an upgraded Ammonia Glycol chiller plant. There are four individually controlled chiller chambers and the 32 ceiling-mounted coolers keep each chamber at a temperature of +1 -3 degree centigrade. The facility also includes a two storey office, "welfare suite" and car parking spaces.
The building is located on the Tunnel Estate which is close to the M25 (Junction 30) and the A13 and access to London and the South East.
Hannah Marshall, Fund Manager of CBRE UK Property PAIF, said in a statement: “In the current climate, cold storage continues to show strong occupational demand and we ensured that our letting campaign primarily addressed this sector of the market. The Funds’ investment into Chillbox has resulted in an excellent letting and provides our investors with secure income on this asset. We’re delighted that Chillbox meets Gousto’s requirements and welcome them to the facility.”
Timo Boldt, CEO and Founder of Gousto, said: “Following strong trading from the start of the year, demand for our meals accelerated as a result of the lockdown and we continue to see record levels of sales, even with the progressive easing of lockdown restrictions.
“As a result, we’re looking to increase our capacity at least threefold by 2022 and this brilliant site in Essex will help us get there.”
Sovereign Centros, DTRE and BNP advised CBRE Global Investors. SBH Shaun Galvin represented Gousto.