Portfolio of northern sheds sold

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Lynx Express has moved to a larger 2,046sq m purpose-built branch on the Gloucester Business Park in Gloucester. The express parcels company’s previous depot was in St Oswald’s Road, Gloucester.

The new depot, which is near the M5, offers more modern facilities and an improved location which will allow Lynx to meet the needs of its customers as well as fulfil the anticipated growth of business in the area. According to Lynx’s regional director, John Johnson, the company’s business has grown by about 20% in the Gloucester region.

Johnson says: “Moving to a state-of-the-art facility will bring immediate benefits such as greater efficiencies in loading and unloading vehicles, improved office facilities and generally a much better environment for staff.”

He continues: “We see the Gloucester area as a prime business opportunity. The South-west and surrounding region is a thriving area and we are confident of major growth potential.”

The branch will cover the Gloucestershire, Herefordshire, Worcestershire and Gwent areas.IM Properties has sold a mixed property portfolio of more than 93,140sq m for £75.6M to Henderson Investors, which is believed to have bought the premises on behalf of overseas investors.

The portfolio includes several distribution units including Eddie Stobart’s 13,487sq m facility at Wakefield (pictured), and a 6,076sq m distribution centre at Leicester’s Meriden Business Park that is let to Tibbett & Britten.

The 14 individual properties and estates generate an annual rental income of £5.6M with 60% emanating from leases with in excess of ten years unexpired.

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