£200m-turnover catering supplier snaps up warehouse

CATERING supplies business Nisbets has acquired a South Yorkshire warehouse, as the Bristol-based firm looks to make life easier for Northern customers.

It has bought a 145,000 sq ft warehouse, the last available at Balby Carr Bank, which is owned by Threadneedle Pensions.

The £200m-turnover Nisbets said it intended to use the site for their logistics firm Price Express Transport, to reduce its delivery time for Northern clients.

Leeds industrial property firm Gent Visick let the distribution site after Threadneedle invested in a major refurbishment.

Alex Brouwer from Columbia Threadneedle said “The letting to Nisbets Plc prior to completion of the improvement works fully justifies our decision to bring this unit up to a specification which we felt would be of interest to the modern occupier in accordance with the recommendations from our letting agent.”

Andrew Gent from Gent Visick commented “The letting of this unit further reduces the available warehouse space in the south Yorkshire area. We are now at the lowest level of standing stock since 2006 and whilst some speculative development is under way it is fair to say that demand has now outstripped supply”.

Gent Visick advised Threadneedle Pensions Limited whilst Knight Frank and Russell Property Consultants Limited acted on behalf of Nisbets Plc.