Friday, September 11, 2023
Whitbread sells 120,000 sq ft Salford distribution centre
Whitbread has sold its 120,000 sq ft distribution facility at Ordsall Riverside, Salford, M5 to local clothing wholesale company BOI Trading.
Whitbread closed the 5.5-acre site in 2006 and subsequently outsourced its logistics operation to Kuehne and Nagel, who now operate Whitbread's supply chain from a new facility in Wellingborough.
The sale price was not disclosed but includes an overage provision operable within the first 15 years of the term.
Simon Hobbs, head of asset management at Whitbread Group PLC said: ''Although we originally believed the value of this site was it's development potential, we are very pleased to have concluded a sale in what can only be described as very challenging conditions.
Development surveyor Jason Gray of Gerald Eve's Manchester office said: "Due to the fragile nature of the housing market and the liquidity challenges facing the sector, developer interest has waned. Nevertheless we are delighted to have secured a sale for our client Whitbread to Boi Trading, a local clothing wholesale company, who will use the site for the expansion of their business".
Boi Trading was advised by Scott Frazer.
Whitbread closed the 5.5-acre site in 2006 and subsequently outsourced its logistics operation to Kuehne and Nagel, who now operate Whitbread's supply chain from a new facility in Wellingborough.
The sale price was not disclosed but includes an overage provision operable within the first 15 years of the term.
Simon Hobbs, head of asset management at Whitbread Group PLC said: ''Although we originally believed the value of this site was it's development potential, we are very pleased to have concluded a sale in what can only be described as very challenging conditions.
Development surveyor Jason Gray of Gerald Eve's Manchester office said: "Due to the fragile nature of the housing market and the liquidity challenges facing the sector, developer interest has waned. Nevertheless we are delighted to have secured a sale for our client Whitbread to Boi Trading, a local clothing wholesale company, who will use the site for the expansion of their business".
Boi Trading was advised by Scott Frazer.
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