Smyths Toys to open second Corby site in mega warehouse on Midlands Logistics Park
Smyths Toys are opening their second logistics hub in Corby
A major toy retailer is to open its second Corby warehouse after snapping up the final unit at the flagship Midlands Logistics Park.
Family-owned Smyths Toys has taken a long lease on the last empty unit at the logistics park off Geddington Road - just across the road from its existing 500,000 sq ft warehouse at Max Park.
The 248,000 sq ft Arrow 248 warehouse sits next to the other big sheds on the site which house Europa, BSH Home Appliances and Eddie Stobart.
Arrow Capital Partners forward funded the development of the unit last year and kept on the original developer Mulberry to complete it.
Smyths, which says it is the fastest-growing and largest toy retailer in Europe, will use the new facility to support its continued expansion in the UK both online and in store. Worker have already begun fitting it out and Smyths are hoping to move in by July.
The firm has more than 100 stores in the UK and Ireland as well as nearly 100 in Europe which it acquired from Toys R Us.
Robert Howe, Head of Real Estate Europe at Arrow, said: “Arrow 248 is an excellent example of our strategy of delivering high quality, institutional grade distribution facilities into supply constrained markets.
"We are delighted to have had the opportunity to partner with Mulberry Developments, who have excelled in delivering another best-in-class facility, and to have built on the existing success and status of Midlands Logistics Park by leasing the unit to such a high-quality tenant.
"We plan to invest a further £250 million in UK logistics development opportunities over the next two years, with further announcements to follow shortly.”
The warehouse was built on a150-acre former steelworks quarry which had been home to Stanion Plantation in more recent years. Planning for a second, similar site across the road at Cowthick Plantation, has also been granted despite many objections from local people.