GLP and NIKE, Inc. sign agreement to lease for a new state-of-the-art logistics campus at Magna Park Corby

GLP and NIKE, Inc. sign agreement to lease for a new state-of-the-art logistics campus at Magna Park Corby

  • New logistics campus will be the principal hub of Nike’s UK supply chain.
  • A 35-acre site incorporating logistics warehousing, offices and a range of sport and recreation facilities.

 

United Kingdom and Singapore, 10 May 2024 – GLP, the leading global business builder, owner, developer, and operator of logistics real estate, digital infrastructure, renewable energy, and related technologies, has today announced that Nike has signed a 20-year lease agreement for its new state-of-the-art UK Logistics Campus and national supply chain hub at Magna Park Corby. Spanning more than 1.3 million square feet of logistics warehousing, offices, sport and recreation facilities in a single building, the campus will target a BREEAM ‘Outstanding’ rating and achieve Net Zero Carbon in Construction.

Legal & General will be the strategic partner in this project to deliver a best-in-class sustainable flagship campus. Legal & General previously acted as strategic partner for the delivery of Waitrose’s first national distribution centre at Magna Park in Milton Keynes in 2014.

Prioritising sport and wellbeing, the new facility in Corby will be designed with wellness in mind. This will be underpinned by a range of external features including running tracks, open-air gyms, multi-use game areas (MUGA) and recreation areas.

Magna Park Corby will benefit from an exercise route of 5.76 km, a 2.0 km nature trail, and 3.7km of other footpaths. Sensitively designed and in keeping with the local area, the new campus will provide access to protected woodlands, with designated cycle and walking routes that will be fundamental to attracting and retaining talent.

Bruce Topley, UK Managing Director at GLP commented: “We are delighted to be welcoming Nike to Magna Park Corby. This new site will help boost skills and generate high-quality jobs.  The industry-leading, bespoke building will minimise carbon footprint and embed health and wellbeing. This investment is a great vote of confidence in the East Midlands and will help propel much-needed long-term growth across the region."

Neil Dovey, Head of Annuity Transactions, Legal & General: "Nike's UK Logistics Campus in Magna Park Corby is ideally aligned with Legal & General's commitment to investing long-term capital into assets that are economically and socially beneficial. We are delighted to be working with GLP, a developer aligned with our principles, to deliver a first-class building, and are looking forward to partnering with Nike as a long-term property owner following completion."

Magna Park Corby is one of the UK’s largest dedicated logistics and distribution parks offering a superb strategic location for logistics by virtue of its connectivity across the UK transportation network.  GLP’s Magna Parks are designed to meet the demands of modern logistics and are widely acclaimed within the industry for setting new standards in terms of design, environmental management, sustainability, occupier efficiency and local job creation.

 

About GLP

GLP is a leading global business builder, owner, developer and operator of logistics real estate, digital infrastructure, renewable energy, and related technologies. GLP’s deep expertise and operational insights allow it to build and scale high-quality businesses and create value for its customers. GLP owns and operates assets and businesses in 17 countries across Asia, Europe and the Americas. GLP Capital Partners, a global alternative asset manager, is the exclusive investment and asset manager of GLP. To learn more about GLP, visit www.glp.com/global.

 

About Legal & General

Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with £1.2 trillion in total assets under management of which 40% is international. We have a unique and highly synergistic business model, which continues to drive strong returns. Legal & General provides powerful asset origination and management capabilities directly to clients, which also underpin our leading retirement and protection solutions. We are a leading international player in Pension Risk Transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. Our purpose is to improve the lives of our customers and create value for our shareholders. Through inclusive capitalism, we are investing in long-term assets, such as real estate and infrastructure, that can help build a better society for the future.

 

Media Contacts

Emmanuel Ofosu-Appiah 
Edelman Smithfield 
Emmanuel.ofosu-appiah@edelmansmithfield.com  | +4407540145537