OneFarm takes over 70,000 sq ft at Newmarket Business Park
A 70,000 sqft modern industrial unit on Newmarket Business Park has been let to OneFarm, a UK based vertical farming company. Acting for Mayfair Capital on behalf of the Property Income Trust for Charities (PITCH), Cheffins negotiated the deal, on a 25-year lease. OneFarm is one of the first operators to bring vertical farming to Suffolk.
When complete, the farm will include a growing area in nine-metre-high towers, using LED lighting, which will be powered in part by solar PV panels mounted on the roof. The farm initially will have the ability to produce around 415 tonnes of food including herb and salad crops, per year. The production area will be increased to produce 1,000 tonnes of food pa, within a short period.
Philip Woolner, Director, Cheffins says: "The letting of this major unit at Newmarket Business Park goes to show Mayfair Capital's commitment to supporting sustainable businesses, which offer carbon reducing solutions throughout the region. OneFarm is an exciting addition to this already well-established location, which is fast becoming a real hub for business, due to its strategic location near to the A14 and other major road networks. Vertical farming has seen significant inward investment in recent months, and we expect to see more lettings for this burgeoning industry."
Scott Fawcett from Mayfair Capital says: "Welcoming a tenant such as OneFarm to the Property Income Trust for Charities is very much in keeping with the sustainable aims of the Fund and securing the letting so soon after completion of the EPC A rated refurbishment demonstrates the strength of our thematic investment approach."