JD Property, the real estate arm of Chinese ecommerce giant JD.com, has teed up lettings of circa 420,000 square feet at its Ansty Park industrial scheme in Coventry, setting new headline rents for the area, CoStar News can reveal.
According to multiple sources in the local market, JD Property has agreed a deal with furniture retailer Daals for it to occupy a circa 301,000-square-foot shed, called Apollo 5, at the West Midlands scheme.
The agreement involves the home furnishings retailer, which has rapidly grown over the last decade, paying £10.50 per square foot at the speculatively developed unit next to M6 Junction 2 and M69 Junction 1.
CoStar News understands that JD Property has agreed a second deal at Ansty Park for JD Logistics, a subsidiary of the wider group, to occupy circa 117,000 square feet at Apollo 7 on the same estate.
Market sources said it is paying a rent of circa £10.75 per square foot, which is a record for the Coventry industrial market. The warehouse has 10 dock level doors and a 0.75 megavolt-amperes power supply.
It is the second deal completed by JD Logistics in the space of three months, with PLP having signing the firm to two units at its Milton Keynes development in May, comprising 530,000 square feet across two sheds.
Sources added there is interest in the remaining buildings at Ansty Park, which will increase to provide 1.5 million square feet of industrial accommodation across multiple development phases.
JLL and Newmark are joint agents at Ansty Park. Newmark declined to comment, while JLL and JD Property were approached for comment.