The Co-operative Estates secures major East Midlands industrial sale
The Co-operative Estates has completed the sale of the former regional distribution centre at Blenheim Industrial Estate, Nottingham.
The warehouse was constructed in the early 1990s and extends to 208,000 sq ft on a site totalling 7.31 acres. The sale included an adjacent vehicle maintenance unit of 7,600 sq ft on 1.7 acres. The facility was closed as part of the comprehensive modernisation and rationalisation of The Co-operative Group’s national distribution network, and the consolidation of its East Midlands distribution operation into a new 500,000 sq ft regional distribution centre at Castlewood at J28 M1.
The property has been sold to North West logistics company Great Bear Distribution who intend to use it for storage and distribution purposes.
Geoff Player, Director of Commercial & Investment Property with The Co-operative Estates, said:
“We are delighted to have completed our tenth major industrial property transaction since we kicked off our UK warehouses campaign eighteen months ago.
“The lack of speculative development in recent years now means that demand for large industrial units outweighs supply which has aided the sale.”
Glenn Lindfield, CEO of Great Bear Distribution, said:
“We are delighted to have reached agreement for the warehouse site in Nottingham. It complements our existing extensive network of sites extremely well and will offer an excellent operational solution for our customer.”
David Willmer, Senior Director at GVA, who along with lead agents Colliers International acted on behalf of The Co-operative Estates, commented:
“The quality of the unit, together with its excellent accessibility to the motorway network, ensured that strong interest was received from both potential occupiers and investors.”
Further details on The Co-operative Estates’ national warehouse disposals are available at www.ukwarehouses.com