Lancashire-based discount specialist B&M Retail has bought Rockpoint’s 618,839 sq ft The Vault facility at Liverpool International Business Park.
It has paid in the region of £14.85m with the help £1.75m in grant aid from a regeneration agency in Merseyside. The company is looking to spend a further £8m on fitting out. B&M Retail intends to have the complex, built speculatively in 2007, operational by Christmas 2010.
The firm currently occupies a warehouse of similar size to The Vault in Blackpool’s Squires Gate Industrial Estate. It is expected that B&M will create 200 office jobs and 400 warehouse, packing and distribution positions at the new headquarters and distribution facility.
B&M managing director, Simon Arora, said: “After looking at a large number of potential sites we have decided that Liverpool was the outstanding option.
“A decisive factor was not only the quality of business environment but also the proximity to the docks reflecting Liverpool’s position as an international freight gateway.”
The development, which has been on the market for three years, has a 15m eaves height and 56 loading docks. It was originally built by Gladman. CB Richard Ellis and M3 are marketing agents on The Vault.