Stobart Group has said a £25m windfall generated by a property sale this month will be held in cash pending reinvestment or used to repay debt. The windfall results from the sale by Stobart’s estates division of an investment property at Admiral Retail Park, in Eastbourne, which the firm took on in February 2012 for £22.1m, estates division CEO Richard Butcher told Motortransport.co.uk. Around £600,000 has been spent on improvements to the site during that period, he added. The deal […]
Whether they have been forced to consider second-hand space because of a lack of new buildings or prefer it for cost reasons, occupiers have become used to a wide choice of warehouses. Now, however, they are facing a reduced supply.
Total industrial and logistics floorspace take-up fell 22% last year due to weak economic conditions and a shortage of good quality stock, according to property consultancy Jones Lang LaSalle’s latest UK Industrial Property Trends Today report.
2015 saw some shocks in the market; FedEx bidding for TNT Express; XPO Logistics buying Norbert Dentressangle and BCA Marketplace buying Eddie Stobart’s automotive business. But they weren’t the only acquisitions in a year packed with M&A activity. We take a look at some of the deals that changed the industry.