Winvic has been appointed by GLP to construct an expansive industrial facility at Magna Park in Leicestershire, marking a significant milestone in logistics development.
- The 761,000 square foot project will include a 716,662 square foot warehouse and additional office facilities, promising to enhance logistical capabilities.
- This initiative will establish Magna Park as Europe’s largest dedicated logistics site, highlighting the region’s strategic importance.
- The financial details are undisclosed, but the development is estimated at £85m, underscoring the project’s considerable scale and investment.
- Completion is scheduled for June 2025, with the construction phase beginning in autumn, as Winvic continues to achieve impressive financial growth.
Winvic has entered into a significant contractual agreement with developer GLP to construct a substantial industrial facility within Magna Park North, located in Lutterworth, Leicestershire. This expansive scheme features a 716,662 square foot warehouse, complemented by a 34,667 square foot three-storey office building, two transport offices, and other essential facilities. The offices will be fitted out to Cat A standards, demonstrating Winvic’s commitment to quality and modern infrastructure.
The project is poised to enhance GLP’s position within the logistics sector, with this development being described as GLP’s largest ever speculative unit. While the exact financial terms remain confidential, data intelligence firm Glenigan values the development at approximately £85 million, illustrating the scale and strategic importance of the project.
Commencing in autumn, the steel-frame construction is on a tight schedule, aiming for completion and handover by June 2025. This timeline reflects the project’s significance and the urgency to operationalise such a substantial logistical hub. Notably, upon completion, Magna Park is set to claim the title of Europe’s largest dedicated logistics and distribution park, exemplifying the growth and centrality of logistics in modern commerce.
Winvic’s financial performance has been robust, with the latest full-year results reporting an 80% increase in pre-tax profit. The firm’s profitability, rising from £10.5 million to £18.9 million, has been driven by a strong demand for IT infrastructure, further solidifying its standing within the UK’s construction industry. In the CN100 2023 rankings, Winvic was positioned as the 16th largest contractor by revenue, highlighting its expanding footprint and market influence.
Winvic’s involvement in the Magna Park project is a testament to its growing influence in the construction sector, setting new benchmarks in logistics development.
