Legal & General (L&G) has announced the first letting at Centric, its newly completed industrial development on Gunnels Wood Road in Stevenage. The deal marks a significant milestone for the scheme, which has been brought forward by the company’s Industrial Property Investment Fund (IPIF) in partnership with Taurus Developments.

 

Remedy Fulfilment, a logistics solutions provider specialising in the music and entertainment industry, has taken a 13,829 sq. ft. unit on a 15‑year lease. The company, which has grown steadily over its 11-year history in Stevenage, selected Centric as it expands into larger, modern premises.

 

Centric occupies a prominent position within Stevenage’s principal employment area and comprises four high‑quality industrial units totalling 75,634 sq. ft., with individual units ranging from 10,000 to 26,300 sq. ft.

 

Tim Packer, Head of Asset Management (IPIF) at L&G, said: “We are delighted to welcome Remedy Fulfilment to Centric and to have completed our first letting. As we have experienced across our wider UK portfolio, where we attract occupiers who have grown their businesses locally to IPIF-owned developments, securing an established Stevenage occupier at Centric is a testament to the development’s offering. A dearth of industrial stock in the Stevenage area led us to purchase the site and develop this scheme, and we are delighted to see it meet local demand for suitable business premises.”

 

Matt Chambers, Director of Remedy Fulfilment, added: “Having built the business over the last 11 years in Stevenage and outgrown our existing premises, we are pleased to have completed our move to Centric, where in a brand-new facility we can continue to develop and grow.”

 

Three units remain available at the development, measuring 10,000 sq. ft., 25,490 sq. ft. and 26,306 sq. ft., all ready for immediate occupation.

 

Brown & Lee and Brasier Freeth are the appointed letting agents acting on behalf of IPIF and Taurus Developments.

 

Visit Investment Opportunities in Stevenage to find out more.