Thu, 28 Jul 2022 | COMMERCIAL PROPERTY
Rapidly growing delivery company Paack Logistics UK has agreed a deal to acquire a near 200,000 sq ft site in the West Midlands, which will serve as the firm’s main UK hub. The modern refurbished warehouse is located near Tamworth, within the UK’s “golden triangle”.
Paack Logistics Operations Director Gordon Finlay said: “This facility will be our main UK hub and provides the perfect platform for our continued expansion.”
With warehouse space increasingly at a premium due to the increasing popularity of e-commerce, the golden triangle – which spans large parts of the East and West Midlands – is among the most desirable logistics spaces, offering close proximity to key roads including the M1, M5 and M6 and with around 90 per cent of the UK population within a four-hour drive.
The unit, called Tamworth 195, spans a 195,143 sq ft site and is located on Kingsbury Link, which is adjacent to the M42’s Junction 10. Other occupants of the area include Greencore, Ocado, FedEx, DB Schenker and Movianto.
Tamworth 195 has Grade A specification, with features including 40 dock level, seven level access loading doors, eaves height of 13.6m and yard depth of up to 116m. Paack Logistics, a firm specialising in zero-emission last-mile delivery, has acquired the site, previously occupied by DSV, on a new 15-year lease.
Avison Young acted on behalf of landlord Mileway on the deal, while Paack Logistics were advised by Roberts Van Wilshaw Chartered Surveyors.
Avison Young director David Tew said: "The high level of occupier interest we had in the unit and subsequent deal showcases the strength of demand in the market for Grade A product in strategic locations. We are delighted to have been able to identify Paack quickly and look forward to working with Mileway again in the future.”
Roberts Vain Wilshaw Chartered Surveyors principal director Joseph Wilshaw commented: "We are very pleased to get this strategic acquisition over the line for our valued, forward thinking final mile delivery company client.”
"Paack is growing fast and this hub was needed to aid the expansion plan. It was a pleasure dealing with the landlord’s agent and I look forward to seeing the facility opened following the extensive refurbishment."
Mileway asset manager Max Pearson added that the deal “shows continued strength for well-located industrial space in the Midlands.”
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