McKay Securities PLC CONTRACTOR APPOINTMENT FOR DELIVERY OF WAREHOUSE (7276U)
April 02 2019 - 1:00AM
UK Regulatory
TIDMMCKS
RNS Number : 7276U
McKay Securities PLC
02 April 2019
McKAY SECURITIES PLC ("the Group" or "McKay")
MCKAY APPOINTS READIE CONSTRUCTION TO DELIVER SOUTH EAST URBAN
DISTRIBUTION WAREHOUSE
McKay Securities PLC, the only UK REIT specialising entirely in
the London and South East office and industrial markets, today
announces that it has appointed Readie Construction as contractor
to develop Theale Logistics Park in Reading. Construction of the
134,430 sq ft urban distribution warehouse will commence imminently
with completion expected in December 2019. Marketing of the
property has already begun.
Located adjacent to junction 12 of the M4, five miles from the
centre of Reading, Theale Logistic Park's strategic edge-of-town
position will be attractive to a diverse range of potential
occupiers such as online retailers, third-party logistics operators
and last mile distributors. The location is already an established
logistics hub with local occupiers including Amazon, Bunzl, Direct
Wines, Ikea and John Lewis.
Demolition of a former warehouse on the site completed last
year, and the new facility will increase the floor area by 39%, in
line with McKay's strategy to redevelop and add value to the asset
having acquired the site in 2015.
Simon Perkins, Chief Executive of McKay, commented:
"Theale Business Park's prime location provides good access to
Reading, a metropolitan hub, whilst also providing strong
connectivity to the wider UK motorway network and last mile
delivery routes. The Theale site is well placed to benefit from the
ongoing low levels of supply of quality mid-size distribution space
in the Thames Valley alongside the continued growth of e-commerce
supporting the logistics sector.
The project is underpinned by McKay's strategic focus on office
and industrial property within London and the South East.
"Readie is an excellent contractor with significant experience
in similar projects and we look forward to working with them on
this exciting project."
- ENDS -
Date: 2(nd) April 2019
For further information, please contact:
McKay Securities PLC FTI Consulting
Simon Perkins, CEO Dido Laurimore, Ellie Sweeney
Giles Salmon, CFO 0203 727 1000
0118 950 2333 mckay@fticonsulting.com
About McKay Securities
McKay Securities PLC is a commercial property investment company
with Real Estate Investment Trust (REIT) status, listed on the main
market of the London Stock Exchange. It specialises in the
development and refurbishment of good quality office and industrial
building with established and proven markets of London and South
East England. The portfolio, which was lasted valued at GBP479
million (30(th) September 2018), now comprises 33 properties in
strong and established areas which delivery diversity in terms of
both sector and location.
www.mckaysecurities.plc.uk
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