17 March 2010
99p Stores will more than double its existing distribution warehousing capacity by moving to Prologis Park Pineham from its current location at Prologis Park Daventry where it had been occupying a 150,000 square feet distribution facility since 2005. It is moving into a new state-of-the-art facility which is currently being fitted-out.
This will enable 99p Stores to initially maintain 250 jobs in West Northamptonshire and to expand further as it reaches its target of 200 stores in 2010.
Nadir Lalani, Chief Executive of 99p Stores, commented: "We have enjoyed an excellent relationship with Prologis over the last five years and are delighted to have found another suitable property in West Northamptonshire to allow us to continue to grow our business and to be able to retain our staff. We are looking forward to moving into our new energy efficient building, which will enable us to make significant operational savings. Every penny counts at 99p Stores!"
Andy Griffiths, MD of Prologis UK, added: "We pride ourselves on our relationships with our existing customer base and are delighted to have signed a new agreement 99p Stores which will support their business in the years ahead. 99p Stores has been flourishing in the downturn and we are pleased to be part of their success."
"99p Stores have been a customer of ours in Northamptonshire for five years and I am pleased that its local expansion will make a further significant contribution to the Northants economy."
This unit, along with a 138,000 feet-square facility still available to let on the park, has been developed to the highest environmental building standards. It benefits from sustainable features such rain water harvesting, 15% rooflights and industry-leading methods of construction that allow occupiers to reduce their energy consumption by up to 40% compared to a Building Regulations compliant warehouse. The buildings, which are adjacent to a unit of 618,000 square feet leased to Sainsbury's, have been awarded the BREEAM Rating of 'Excellent'. Prologis also owns 43.22 acres ready for development on site.
Located off Junctions 15a and 16 of the M1 in Northampton, Prologis Park Pineham provides occupiers with access to the national motorway network, primary consumer markets and a readily available workforce.
Proteus Property acted for 99p Stores and Burbage Realty/Readings Hope & Mann for Prologis.
