Furniture retailer buys Hydro shed

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Furniture manufacturer and retailer Steinhoff which includes such brands as Harveys, The Furniture Store and Bensons for Beds has bought the 422,784 sq ft Hydro warehouse at Magna Park from the Receivers.

The warehouse has been vacant since Primark went to Thrapston in 2010. The company that owned the building went into receivership in 2011. Knight Frank and Burbage Realty were joint agents who along with the receivers took a bullish view and refused to sell the property off at a knock down price holding out for £60 per sq ft freehold. It is believed the property sold for a price in the region of £58 per sq ft.

The facility has 15m eaves, 36 dock level doors and a large secure yard up to 92m deep. It is an eco- friendly building with reduced running costs, one of the first in the country to incorporate Gazeley’s Eco Template in 2005. The property was originally let to TNT/Primark at a rent of £5.25 per sq ft.

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