THE former Travis Perkins site on the Appleton Thorn Trading Estate, Warrington, has changed hands for £7.5 million.
Industrial and warehouse developers Tungsten Properties, funded by British Airways Pension Trustees, has acquired the prominent distribution development site at Lyncastle Road, from Travis Perkins plc
The site totals 11.03 acres (4.46 hectares) and following Travis Perkins’ relocation earlier this year, to its new, larger facility at Omega Warrington Distribution Centre, houses an outdated warehouse.
Subject to planning consent, Tungsten Properties will redevelop the site to build a new commercial warehouse totalling 243,000 sq ft (22,575 sq m) including office space, 18 dock-levellers and a 229-car park with new access and providing more than 200 jobs.
Lyncastle Road is within one mile of Junction 20 of the M6 motorway and Junction 9 of the M56 motorway. Warrington town centre is within four miles to the north.
Tungsten Park Warrington occupies a high-profile distribution location within the Appleton Thorn Trading Estate and other businesses include Eddie Stobart, DPD, Stretton Green Distribution Centre and Shred-it.
Subject to planning, demolition works will start later this year with the unit available from late summer 2021. Colliers and Moriarty and Co have been appointed letting agents.
This purchase is Tungsten Properties’ third acquisition during lockdown following recent announcements of its Yorkshire acquisitions of Super B in Bradford, a new 230,000 sq ft warehouse development, and the former B&Q in Sheffield for a new 170,000 sq ft warehouse along with roadside uses.
Ian Dunckley, development director, Tungsten Properties said: “Our latest acquisition in Warrington, which is our second funding partnership with British Airways Pensions Trustees Ltd, responds to the lack of new logistics stock in the North West and demand from businesses for new, state of the art expansion space. Savills recently reported that the North West has a logistics’ market vacancy rate of just 5.48%, the lowest level ever recorded and with the development pipeline in the area below 1 million sq ft, they calculated that the region has just 1.07 years’ supply. Therefore, our investment aims to meet market demand to create workspace, jobs and solutions for business and ultimately consumers.”
