Retailers set for Cheshire warehouse deals

FAST-growing discount retailer B&M has agreed terms for a 350,000 sq ft distribution centre in Runcorn, marking the first significant industrial letting of 2015.

According to Property Week, B&M has placed under offer the Logicor-owned Onyx350 building, and is believed to have seen off competition from Poundland to secure the site, which was one of the last big-box sheds available in the region.

Onyx350 has land available for an extension of up to 130,000 sq ft, taking the potential size of the distribution centre to 480,000 sq ft. B&M is said to be considering the extension.

The move forms part of an expansion drive for the Liverpool-based retailer, as it aims to grow its UK portfolio of stores from 375 to 600. B&M already occupies a 1.2m sq ft mega-shed in Speke, and is also looking to open a distribution hub in the south, where it has a requirement for 35-40 acres of land for a purpose-built shed.

Elsewhere in the North West, retailer Dunelm Mill is under offer to take the 460,000 sq ft former Tesco distribution centre in Middlewich.

Tesco announced it would cease its operations at the distribution centre in 2013, following a review of its network.

It has been looking to secure a deal to sub-lease the space at the Tesco Pension Fund-owned building. Once completed, the two deals will take the region’s last remaining immediately available big-box stock off the market.

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