Such is the demand for well let warehouses in the UK that Tritax Big Box has paid £90 million in an off-market deal for a wine warehouse in Bristol.
The 872,000 sq ft distribution centre is let to Accolade Wines and is a key component of the company’s supply chain used for receiving, then bottling wine for sale into the UK and European markets.
Constructed in 2008, the building has internal eaves heights of between 15 and 18m, 30 dock level loading doors and high-quality office accommodation.
It has a state of the art bottling and box bag packaging lines and tanks, with the capacity to produce 1,200 bottles of wine every minute.
It is the largest wine production, warehouse and distribution centre in Europe, distributing to all major UK supermarkets and European markets and providing approximately 20% of the UK’s wine supply.
The tenant has a further 12.8 years of unexpired lease term, with five-yearly rent reviews
Colin Godfrey, CEO, Fund Management at Tritax, commented: “This is a key asset, let to one of the world’s largest wine companies by volume, in a strong and increasingly important location for logistics in the UK.