Magnitude 312

Gazeley has announced plans to expand its Magna Park Lutterworth logistics park from 9 million sq ft to 16 million sq ft.

The company has the potential to increase the southern side of the park by 2.8 million sq ft and is already developing three speculative units of 300,000 sq ft, 126,000 sq ft and 98,000 sq ft which will become available in Autumn this year. It also plans to construct a further 746,000 sq ft subject to planning.

In addition, there are 225 acres of land on the northern side of the park which are being offered as build-to-suit development.

These could accommodate up to 3.3 million sq ft in buildings from 100,000 sq ft to 1 million sq ft.

Gazeley development director Bruce Topley said: “In light of the continued high demand for logistics space, particularly in this area, we are confident that these buildings will be a welcome addition to the market.”

The company has also announced plans for a 312,000 sq ft speculative building (pictured) at its other Magna Park development, in Milton Keynes. This will be known as Magnitude 312 and will have parking space for 195 HGVs, along with the potential to build four mezzanine levels inside.