18 August 2015

Waitrose distribution hub sold to L&G for £50.8 million

Forsters has advised logistics and industrial property specialists, Evander Properties Limited, and longstanding client BA Pension Fund in relation to the disposal of a Waitrose distribution centre at Matrix Park in Chorley. The 420,000 sq ft shed was sold to Legal & General for a purchase price of £50.8 million.

The building comprises of a 360,000 sq ft warehouse, 50,000 sq ft of office space and a vehicle maintenance unit, from which Waitrose services up to 80 branches across the North of England and Scotland. Forsters also advised Evander and BA Pension Fund in relation to the acquisition of the site and the development of the state of the art facility, which took just 9 months to construct and was delivered ahead of schedule and on budget.

Commercial Real Estate partner Eugene McMahon led the team advising on the sale, assisted by Hannah Rickard. Partner and Head of Construction, Sarah Cook, advised on construction matters.

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