Distribution base changes hands for £8.5m
A DISTRIBUTION base occupied by North West home shopping group Shop Direct has changed hands for £8.5m.
GVA has sold the 330,112 sq ft distribution facility in Little Hulton, Bolton, to private real estate fund, Clearbell Capital LLP. The sale by investor Catalyst Capital reflects a yield of 8.35%.
The property is currently occupied by Shop Direct subsidiary Littlewoods Retail on a five-year lease which expires in November 2018 at an annual rent of £750,000 per annum.
The self-contained distribution facility is situated on a 20.547 acre site . It comprises two warehousing units of 134,747 sq ft and 178,037 sq ft respectively in addition to 17,314 sq ft of ancillary accommodation.
King Street Commercial acted for Clearbell Capital LLP in the deal while GVA acted for Catalyst.
