Former haulage firm’s property hits market for over £3m

A property spanning 78,000 sq ft, previously housing a family-operated haulage company, is now on the market for sale.

Watling Real Estate is currently marketing the 78,733 sq ft property, which once belonged to Cartwright Bros and consists of a detached, self-contained industrial/warehouse facility with four bays.

Offers in the region of £3.3m are being sought for the property.

Cartwright Brothers (Haulage), a family-run haulage and storage business in Lincoln, closed after 80 years of operations in June this year.

Ben Holyhead and Chris Davies from Watling Real Estate’s Birmingham office have been tasked with selling the vacant unit situated on Freeman Road, North Hykeham.

They are representing joint administrators appointed by Kroll, following their appointment over Cartwright Bros.

Holyhead said: “Given market demand for freehold industrial and warehousing accommodation, we anticipate a good level of interest, from occupiers and property investors alike.  We expect demand to be supported by the property’s sub-division and asset management potential.

“Given the critical shortage of standing freehold industrial stock within Lincolnshire and the wider East Midlands, and with the cost of developing new accommodation exceeding £100 per sq.ft., we expect the property to be an attractive proposition to a variety of potential purchasers.”