Property company Delancey is working with TDG to let surplus space at the 3PL’s West Hallam facility in Derbyshire.
The move comes after Delancey bought the freehold interest in the West Hallam Industrial Estate, for £18.65 million deal from Douglas Bay Capital.
The 120-acre site, which provides circa 1.3 million sq ft of warehouse and logistics space across 106 buildings, is let to third party logistics operator TDG.
TDG has an eight-year lease, and management agreement, at an annual minimum rent of £1.7 million per annum, which equates to £1.30 per sq ft overall. TDG operates distribution contracts for clients including Boots, Brakes, Rolls-Royce and Costa Coffee from the multiple buildings and open storage yards on the estate.
Delancey will now work together with TDG on letting up vacant space and storage land at the estate. Units are available from 2,200 sq ft.
Paul Goswell, managing director of Delancey, said: “We regard this as a very exciting asset which offers huge potential through active asset management. It is the first time the property has changed hands in 50 years and we envisage there will be a host of opportunities to add value over time.”
Delancey was advised by Burbage Reality.
Colliers International and Celtic Asset Management advised Douglas Bay Capital.