Double celebrations at Origin, Park Royal

WASABI Co Ltd sign lease for the 65,000 sq ft spec unit at flagship development in Park Royal, Construction of final phase begins, Only two units remain available at Origin.

During a celebratory event to mark the start of the final phase of its flagship project, Origin, in Park Royal, SEGRO announced that Wasabi Co Ltd, the sushi and bento company, have signed a 15 year lease on the 65,000 sq ft unit which was marketed on a speculatively developed basis.

A prime example of the surge in customer demand for well located, high quality urban distribution space, Wasabi signed the lease less than four weeks after initial site preparation work had begun. The site is expected to complete in December 2015.

Only two units of 36,015 sq ft (completed) and 34,560 sq ft (under spec development) remain available at Origin.

Wasabi, who are the only food retail brand to sell individually wrapped sushi, will join other well-known brands such as John Lewis, Ocado and Mash Purveyors - suppliers of quality fruit and vegetables for hotels and restaurants in London - on the former Guinness Brewery site.

Priding themselves on offering sushi made from the highest quality ingredients, Wasabi needed to be close enough to resupply their outlets across the capital with fresh products on a daily, often more frequently, basis.

Located only eight miles from the centre of London - and its close proximity to the A40 - meant that Origin was the ideal solution to meet their delivery and logistics needs and enabling the company to continue to grow.

Mr Kim, Wasabi Chief Executive, said:

"As our company continues to grow from strength to strength, we wanted to move into a larger premises that was in the prime location of Park Royal. Its connection to the heart of London was vital for Wasabi as it is where the main concentration of our outlets are."

Park Royal is affectionately known as the "breadbasket of London" and supplies two thirds of the city's restaurants and hotels with food and beverages. SEGRO is the main light industrial and urban logistics investor/developer in Park Royal with a footprint of over 4 million sq ft and 189 customers.

Along with the customers at Origin, and other selected guests, Deputy Mayor of London, Sir Edward Lister, and Leader of Brent Council, Cllr Muhammad Butt, joined SEGRO Chief Executive David Sleath at the event which officially marked the start of construction on the second phase.

SEGRO's CEO, David Sleath, said:

"We are thrilled that Wasabi is joining us at Origin - our flagship development - which has today reached a significant point in its evolution. Origin is more than a collection of industrial units - it creates employment opportunities for the local area, space for companies to grow and a base from which the ever expanding population of London can be serviced.

"Our presence in Park Royal is strengthened by the calibre of our customers, from the larger names like John Lewis, to the smaller entrepreneurial companies who have selected our properties as their bases. We are proud our strategy to develop in the right location is playing a part in their success." 

Origin has achieved  the highest BREEAM rating of 'excellent' and within two years from the first spade in the ground, has not only delivered over 330,000sq ft of space, but it has also been fundamental in delivering employment opportunities for the local community in Brent. When complete, Origin will have created over 1500 jobs.

At the inception of the development, SEGRO launched an employment scheme with local partners and customers on the site to create a sustainable workforce from the local community. In just 18 months, one of the new customers, Mash Purveyors has recruited 10% of its workforce via the scheme. John Lewis and Ocado have also joined the programme.

Sir Edward Lister Deputy Mayor for Planning and Chairman of the Old Oak and Park Royal Development Corporation, said:

"Park Royal is one of the most significant industrial areas in Europe so I am delighted that we can add Wasabi to the long list of businesses that are based there. The arrival of HS2 and Crossrail will be a real game-changer for Park Royal and neighbouring Old Oak Common, stimulating regeneration on an almost unprecedented scale.

"The Mayor recently launched the Old Oak and Park Royal Development Corporation which will drive through these exciting plans and ensure that businesses like Wasabi and Origin can reap the enormous benefits of this once-in-a-generation opportunity for many decades to come."

Doherty Baines acted on the Wasabi deal. JLL and CBRE have also jointly acted for SEGRO.