Firm News

L'Oreal and Topland to expand in Trafford Park

Release Date:

21 January 2004

Topland Group in partnership with L'Oreal are to develop a distribution campus of 257,000 sq ft / 23,870 sq m on Green Property's Electric Park scheme on Trafford Park.

Following on from the successful development of a 30,000 sq m distribution depot for Kellogg on Electric Park, Topland have now signed up L'Oreal (UK) Limited on a pre-let basis and acquired an adjoining 15.8 acre site from Green Property. The development will comprise 2 buildings in a campus setting with scope for future expansion of the main warehouse. The site will be used by L'Oreal as their national Distribution Centre for their Consumer Products Division.

The scheme was worked up in partnership following Topland's successful bid in an initial beauty parade and resulting in L'Oreal signing for a term of 15 years from PC of the high specification fully fitted buildings in August 2004. The lease reflects an initial rent of £5.50 psf with fixed uplifts throughout the term.

Fletcher King Manchester and sbh.uk acted for L'Oreal and Topland respectively, on the site purchase and pre-let with sbh.uk also project managing the development which is now underway. King Sturge and Lambert Smith Hampton represented Green in the sale of the site.

Law Firm:	Mishcon de Reya
Client Name:	Topland Group Plc
Value of Deal:	Purchase of site for 17 acres £4.9million of construction of distribution warehouse and lease to L'Oreal at a rent of £1.43million a year for a term of 15 years.
Firm's Key Personnel:	Partner Ian Paul with specialist input from partners Philip Freedman and assistant Arnaud Montagna
Other Parties:	Philip Lowe of Addleshaw Goddard acted for the vendor and Gerald Bland and Angela Perry at Wragge & Co acted for L'Oreal.