Menzies completes the sale and leaseback of eight depots
The transaction has generated proceeds of £24.65 million with the properties located in local industrial areas in Aberdeen, Edinburgh, Glasgow, Ipswich, Norwich, Stockton on Tees, Swansea and Weybridge.
They are part of Menzies Distribution’s UK wide network of 55 depots.
The purchaser is UK real estate investment trust Custodian REIT.
The sale and leaseback of the eight distribution depots will align these properties with the company’s remaining 47 leased properties across the UK & Ireland providing a consistent and flexible network of operating bases supporting the long-term growth and diversification of the company.
In July 2019 the company opened its new 170,000 sqft super-hub in Coventry.
