Monday 24th Oct 2016 - Logistics Manager

Empty shed snapped up by investor

Investor Legal & General property has snapped up a 123,142 sq ft warehouse in Trafford Park Manchester for £3.6 million.

The Ocean Trading Estate facility is situated on a 7.6 acre site and was formerly owned and operated by logistics company Wincanton.

Wincanton retained property agents Cushman & Wakefield and Savills in January to advise on its strategy to dispose of vacant warehouse facilities that were surplus to requirements. The company has been widely reported to have sublet a 217,833 sq ft distribution space in Essex to Poundland. The site, at RD Park in Hoddesdon, has been let on a lease expiring in December 2015.

The company is also shortly to launch its 511,000 sq ft mega shed at Max Park, Corby onto the market as a sublease or assignment. This follows Argos’ reorganisation of its warehouse distribution network to cut costs. Catalogue retailer Argos has moved its Midlands distribution centre from the hub in Corby to Magna Park in Lutterworth in Leicestershire.

Wincanton was advised by Savills and Cushman and Wakefield. Poundland was represented by BNP Paribas Real Estate. Legal and General was advised by Moriarty & Co.