Aviva Investors has completed the letting of a 5,481 sqm (59,000 sq ft) warehouse asset at Swan Valley Industrial Estate in Northampton, to Fisher & Paykel, a designer and manufacturer of high-end home appliances.
The agreement follows completion of the unit, which was built earlier this year and is currently undergoing a full fit-out for the new tenants.
It adds to Aviva Investors’ already significant presence across the Swan Valley estate, with two warehouse units currently let to Pets at Home and The White Company, which together offer over 46,000 sq m (490,000 sq ft) of lettable floorspace. Aviva Investors also owns the site of the car dealership currently under construction at Swan Valley, which is due for completion in March 2021. The unit is pre-let to Guy Salmon, who will operate it as a Jaguar Land Rover dealership upon completion.
In addition to this, Aviva Investors owns two further plots at Swan Valley; Rothbart 128 achieved detailed planning consent in September 2020, with Aviva Investors intending to speculatively build a warehouse on the site which will span almost 12,000 sq m (128,000 sq ft); the final plot is currently a greenfield site with outline consent for employment land.
“We are delighted to have secured such a high-quality tenant in the form of Fisher & Paykel, who have chosen to relocate their UK headquarters to Swan Valley. With construction soon to start on one of the remaining sites, we look forward to expanding our presence in the area and adding to the estate’s existing credentials. This reflects our belief that Swan Valley continues to fit well within our strategy for strong assets in strategic locations which will ultimately deliver positive results for our clients,” said Ben Lomax, Director, Real Estate at Aviva Investors.
Avison Young / LSH acted for Aviva Investors, and CBRE acted for Fisher & Paykel.