Construction is set to start on a 524,000 sq ft Poundworld distribution centre in Wakefield.
LondonMetric Property has exchanged conditional contracts with CDP Ltd, the development arm of the Marshall Construction Group, to purchase and forward fund the development of a retail distribution centre in Wakefield for £39.4m.
The warehouse has been pre-let to Poundworld Retail on a 15 year lease.
Construction will start later this summer with practical completion targeted for autumn 2016.
The 30-acre site is located near junction 31 of the M62 in a logistics hub that already includes Asda, DHL, HSBC, Royal Mail and TK Maxx.
Mark Ward, property director at Poundworld Retail, said: "We have a rapid store expansion programme over the next three years and the new distribution centre will aid our expansion plans, improve efficiency and allow for a broadening of our product range in our single and multi-price format stores."
