Property group expands presence on thriving industrial estate
Chorley-based property and asset management company, FI Real Estate Management (FIREM), has acquired 833,000 sq ft Wrexham-based warehousing company, F.Lloyd (Penley), for an undisclosed sum.
This increases the firm’s portfolio of high quality warehouse space on Wrexham Industrial Estate, with a further 1.3m sq ft of new build developments in the pipeline.
The deal was completed within four weeks and five days of the initial approach. All 50 members of the existing F.Lloyd’s staff have been retained, ensuring that business continues as usual for its many long standing customers.
F.Lloyd (Penley) was established by Frank Lloyd back in 1975, and has remained in family ownership.
The warehousing business provides individually-tailored storage solutions on long term contracts or spot hire rental and possesses the largest collection of units on the entire estate.
Now a household name in Wrexham F.Lloyd’s clients range from local firms to national businesses, with customers located across the UK.
The addition of F.Lloyd to the FIREM portfolio is expected to further strengthen and diversify the asset manager’s industrial offering to its own clients on the estate, and follows an increased demand for serviced warehousing.
A FI Real Estate Management spokesperson, said: “We are delighted to be further building our presence in Wrexham and significantly extending our offering for new and existing clients. F.Lloyd is known for fantastic customer service and a brilliant team of people and we’re proud to now be working with each and every one of them.
“This acquisition is part of an ongoing investment and acquisition strategy for FIREM, which puts regional growth and economic regeneration at the forefront, and reflects the importance of listening closely and responding to the market.”
They added: “We know that our existing tenants will benefit greatly from having a high quality warehousing operation on their doorstep – with the added benefit that tailored packages will be negotiable through their existing FIREM contact.
“We are also confident that our ongoing strategy in Wrexham will deliver a welcome boost for inbound investment and job creation.”
Wrexham Industrial Estate sits within FIREM’s extensive UK 10m sq ft portfolio, comprising five million sq ft of industrial space, and a further 2.6 million sq ft of new build property in the pipeline.