Mileway picks up Pennguin in 100,000 sq ft deal
The last-mile logistics developer has signed a 10-year lease in South Tyneside with the e-commerce firm, which works with consumer goods brands.
The 101,400 sq ft warehouse and logistics space at Viking Industrial Park is more than treble the size of the company’s previous premises, also within the Mileway portfolio, at Simonside East Industrial Estate, highlighting its growth.
Pennguin works with FMCG brands to deliver growth in their online operations.
Andrew Jones, Mileway managing director UK and Ireland for Mileway, said: “Pennguin is a longstanding Mileway customer and a thriving local business in the heart of the South Tyneside community. It’s a privilege to provide the team with the additional space required to support the company’s growth.”
Mileway sees the North East as an essential logistics destination servicing some of the UK’s fastest-growing urban areas. With more than 58 properties covering just under 4m sq ft of warehouse space across the region, the firm said it is well-positioned to serve the needs of local businesses of all sizes and sectors.
Viking Industrial Park is Mileway’s largest unit in the North East and provides modern specifications ideally suited to the operational requirements of the e-commerce business.
Mark Penn, Pennguin chief executive, said: “We are proud of our Tyneside roots and commitment to creating prosperity from within.
“We hope our investment in the area, job creation and long term view creates a domino effect that will be felt for generations to come. We are grateful for the support of Mileway, PGS Law and Lantern in getting us settled into our new HQ.”
Knight Frank advised Mileway.
Cllr Margaret Meling, lead member for economic growth and transport at South Tyneside Council, said: “Pennguin considered relocating from the North East but, after carefully weighing up all options, recognised the clear business case for remaining invested in South Tyneside.
“We are thrilled with their decision to remain rooted in our community for the long-term and look forward to continuing to support their future growth.”
Mileway is described as the largest owner of last mile logistics real estate assets in Europe with an owned portfolio of more than 1,600 properties. The company serves more than 9,000 customers across a wide range of industries.
