Wincanton has off-loaded two warehouses – and sublet a third - as it presses on with a review of its 13m sq ft property portfolio.
The logistics giant has sublet a 112,082 sq ft detached distribution facility at Tolka Quay in Dublin Port, Dublin to McQuaid O’Flanagan. A further deal has been agreed with the Peel Land & Property Group which will see the development of residential properties on a five-acre site in Ellesmere Port, Wirral.
In addition to the two disposals, Wincanton has agreed a short-term lease with Royal Mail for the use of its 237,999 sq ft (22,110 sq m) distribution warehouse in Bathgate, West Lothian as part of an ongoing review of the best use of the site.
Ian Henderson, group property director at Wincanton, said: “These disposals are the result of a continual review of our portfolio to ensure that we are extracting the greatest value from our broad range of properties throughout the UK and Ireland. We will continue to take the necessary steps to optimise our available assets in line with market trends.”
Stuart Murray, industrial director at Savills, and advisor to Wincanton, said: “We are also in the process of acquiring new, strategically-located distribution space to accommodate Wincanton’s growing customer needs.”
Savills advises Wincanton on acquisitions, disposals, asset management, landlord and tenant liaison and a range of other property services across the UK and Ireland.