Global logistics firm Gazeley has announced today that it has completed the forward sale of the Enfield distribution centre it is creating for Tesco.
Property company IM Properties has signed the deal with Gazeley for the centre situated at G. Park in the Greater London town.
The building will be used for Tesco’s e-commerce business, it covers 152,000 sq ft, cost £20 million to complete and is expected to create around 550 jobs.
Alex Verbeek, Development Director at Gazeley, said: “We are delighted to forward-sell the Tesco investment in Enfield at a value which reinforces the high quality of the building, location and our customer Tesco.
“The deal with IM Properties demonstrates the continuing strength of the investment market for the right logistics space in the right strategic locations.”
It was announced last month that Gazeley had won the contract to develop the site, although work had already begun on the development, and construction is scheduled to be completed by the end of the first quarter this year.