Thu, 21 Sep 2023 | COMMERCIAL PROPERTY
St Mowden Logistics has agreed a deal to acquire a 267,000 square foot facility in Bilston, Wolverhampton. The facility, which is known as the Titan 10 Distribution Centre, is currently let to Pallet-Track, a major freight distribution firm.
Pallet-Track has used the facility as its central UK hub for more than 15 years, with the site servicing the company’s network of distribution depots and handling an average of 8,000 pallets each night.
The facility is located a ten-mute drive from Junction 10 on the M6 motorway corridor, as well as 15 miles from Birmingham’s city centre. Crucially, it is located within the logistics sector’s “golden triangle”, a highly sought-after location for warehouses and distribution hubs.
The golden triangle spans large areas of the East and West Midlands and is in close proximity to many of the UK’s key roads, including the M1, M5 and M6. Approximately 90 per cent of the UK population lives within a four-hour drive of the golden triangle, meaning that warehouse space in the area is increasingly at a premium amid the ongoing growth of e-commerce.
Commenting on the deal and the company’s overall acquisition strategy, St Mowden Logistics’ Head of Transactions James Cooper said: "This transaction represents a rare opportunity to acquire a high-specification distribution facility which is let to a leading UK business, in the 'golden triangle'.”
"This asset is a great example of the business-critical logistics facilities we are acquiring as part of our wider aggregation strategy."
Find out more about how logistics is helping to shape UK commercial property M&A
Read more about dealmaking trends in the logistics sector
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