Tritax Symmetry has announced that a deal has been agreed with Ocado to rent out a logistics facility at Symmetry Park, Bicester.
The online retailer has reportedly taken unit B, comprising 163,664 sq ft on a 20-year lease. Once operational in 2022, the scheme will be used to further improve its distribution across Oxfordshire for its “rapidly growing” online grocery customer base.
The logistics developers said that the facility will be one of the “most advanced in the world” with high tech robotics, and will aim to create around 900 jobs with an investment of £50m to the local economy.
Tom Leeming, development director at Tritax Symmetry, said: “Ocado is a long standing Tritax Big Box customer and this letting demonstrates the inherent value in being able to use our development platform to swiftly accommodate an existing customer’s evolving occupational requirements.
“Let on a long 20-year lease this prime, highly sustainable and automated facility will play an integral role in Ocado’s regional distribution network for many years to come. We are delighted to welcome this household name, the associated employment opportunities and investment to Cherwell and Symmetry Park, Bicester.”
He added: “As the significant growth in online retail continues, demand for prime, strategically located logistics facilities continues to strengthen across the UK. Local Authorities, by consenting to logistics land use, can play an important role in helping to drive the regional economic recovery.”
Symmetry Park extends to 53-acres and is currently home to Bentley Designs, Medline Services and DPD Group. It is undergoing construction and due to be completed in April 2021.
Danny Kennedy, senior real estate program manager at Ocado said: “We’ve seen a huge demand for our services this year and we’re pleased to be able to expand our operations to serve tens of thousands more customers from this site in Symmetry Park.”