Hogan Lovells Advises BMW on New Warehouse Lease
London, 27 October 2010 - Hogan Lovells has advised BMW Group (UK) Ltd on the lease of a new, purpose built, 457,546 sq ft (42,506 sq m) warehouse in Northamptonshire, agreed on 27th September.
The new facility, leased from ProLogis, the leading provider of distribution space in the UK, will be a carbon neutral building constructed to meet the standards of EPC "A" rating and BREEAM "Excellent". It is located at ProLogis Park, Pineham, in Northampton.
A planning application for the new building will be submitted to the West Northamptonshire Development Corporation (WNDC) in the coming days. Following completion, scheduled for January 2012, the new warehouse will be BMW Group’s regional distribution centre delivering parts to BMW, MINI, Rolls-Royce Motor Cars and BMW motorcycle dealers throughout the UK and Ireland. The facility will be the result of a multi-million pound investment by BMW Group in the UK and is expected to employ around 200 people.
The Hogan Lovells team advising BMW was Senior Associate Stephen Elliott and Associate Simon Keen who had pitched for and won the instruction at competitive tender. They were supported by partner Dion Panamblana.
Of the transaction, BMW relationship partner Nicholas Cheffings said:
"We are delighted to have been chosen by BMW to conclude its agreement with Prologis for this business critical site and are pleased to have done that by way of an innovative structure which fulfils both parties' objectives."
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