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BUT Signs for Burgundy Distribution Site

PARIS-Wal-Mart's European property subsidiary Gazeley has signed French furniture and electrical retailer BUT as the first occupier at its 3.5 million-sf Magna park distribution scheme in Pagny, between Beaune and Dijon in Burgundy.

By Graham Parker | Updated on December 30, 2003

PARIS-Kingfisher subsidiary BUT has signed up as the first occupier at Magna Park Pagny, the 360-acre distribution park planned by Wal-Mart’s European property arm Gazeley for a strategic site between Beaune and Dijon in Burgundy.

BUT will occupy a 24 000 sq m (258,000 sf) unit scheduled for completion in July 2004, paying a rent of €45.50 per sq m ($5 per sf) for a nine year lease. The unit will kick-start construction on the 300 000 sq m (3.25 million sf) Phase 1 of the scheme.

Situated close to the junction of the A31, A36 and A6 motorways, Magna Park Pagny is strategically positioned to link Paris and the Channel ports to the north west, Benelux and Germany to the north east and Lyon and Marseille to the south. A rail freight link also connects the site directly to the international rail network.

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