St. Modwen takes 267,000ft² Wolverhampton distribution facility

St. Modwen Logistics has acquired the Titan 10 Distribution Centre – a 267,000ft² distribution hub in Bilston, Wolverhampton.

The unit has been let to pallet delivery company Pallet-Track. According to Pallet-Track, an average of 8,000 pallets are handles at its Wolverhampton hub each night, reaching a milestone of ten million pallets moved through the hub in 2014.

James Cooper, Head of Transactions at St. Modwen Logistics, 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.”

Atlas Real Estate acted for the vendor and Acre Capital Real Estate acted for St. Modwen Logistics.

Andrew Franck-Steier, Director at Atlas Real Estate, added: “We were delighted to be asked to sell the asset and it was great to have been involved in both the original funding and sale of the deal.”

Source: logisticsmanager.com