The media company, which owns Penguin, Pearson Education and the Financial Times, has signed a 15 ½ year lease for the new distribution facility, and as part of the deal ProLogis has agreed to take back Pearson's existing 212,000-sf facility at Magna Park in Lutterworth, Leicestershire. Pearson will also be relocating some operations from Heathrow to create one new automated facility to service the UK, mainland Europe, the Middle East, Africa and group companies worldwide.
ProLogis is also planning to start work on a 225,000-sf speculative warehouse building at Central Park. DTZ, the Staubach Company and Richard Berzine & Company advised Pearson . Cushman & Wakefield Healey & Baker and Lambert Smith Hampton acted on behalf of ProLogis.
Simon Lloyd, Director at DTZ who advised Pearson on the relocation, adds: "This is one of the largest lettings to take place in 2002 and is further evidence of the strength and the continuing demand for flagship facilities across the Midlands.
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