More than three million sq. ft of warehousing across the UK to be sold off
Property manager Colliers has been appointed by Co-operative Estates to dispose of 15 surplus warehouses across the UK.
The sites, five of which are in Scotland, range in size from 10,000 sq ft to 320,000 sq ft., and the 15 buildings, a mix of ambient, chilled and frozen space, total in excess of three million sq ft.
Colliers will act as lead agent on the portfolio, working with existing joint agents.
Co-operative Estates manage and develop the distribution portfolio for the Co-operative across the whole of the UK.
The disposals form part of a wider upgrade and consolidation of the Co-operative property portfolio following its 2008 acquisition of the Somerfield supermarket chain.
Geoff Player, director of commercial and investment property at the Co-operative Group, said: “These properties are well located and offer a wide variety of warehouses throughout the country that will appeal to a range of distribution and industrial occupiers.
“The fact that the portfolio provides a mix of ambient, chilled and frozen space will undoubtedly widen their appeal.
“Co-operative Estates has already disposed of in excess of 700,000 sq ft of surplus industrial property in the last 12 months and we are looking to build on this momentum.”
Iain Davidson, director of logistics and industrial at Colliers, added: “The properties being offered in the portfolio provide an excellent fit for the distribution and wider industrial sectors.
“The sites are very well located and offer a wide range of floor space and facilities that will be attractive for an extensive range of occupiers.”