Supermarket retailer Sainsbury’s has paid £4.75 million for a seven-acre site in Braintree.
The site which has a number of small business units was acquired from The Industrial Trust through Valad. Under the terms of the sale, The Industrial Trust will receive the additional payment if Sainsbury’s is successful in obtaining planning permission for the site and dependent on what size of development approval is granted for.
It is thought the retailer is looking to expand in the town and wants to build another store, however, there are also market rumours that it may use the site as an e-fulfilment centre subject to planning. Sainsbury’s is looking to return to the dedicated e-tail model it pioneered ten years ago in Park Royal which it had to close as the volume of orders was not large enough.
Valad was advised on the sale by Chris Mason of Mason and Partners.