Expect Distribution, the Bradford based logistics, haulage and distribution business, has expanded its operations by taking a 193,000 sq ft warehouse on the Euroway Trading Estate in Bradford.
The unit has been comprehensively refurbished by owner, Legal and General.
Rob Oliver of Avison Young, marketing agent for Legal and General, said: “We were delighted to be appointed to market this unit. It offered occupiers a rare opportunity to secure a large modern production or distribution facility with multiple dock and ground level loading access to two elevations and a substantial power supply, within five minutes of the M62.
“The unit attracted considerable interest from both regional and national occupiers. Expect Distribution has taken a long-term lease and is investing considerable capital expenditure in the building.
“There is a real shortage of larger second-hand distribution facilities on the M62 corridor and this has been the case for some time. Opportunities for occupiers to secure premises are limited, particularly as for most, they need to stay relatively close to existing facilities for staff retention reasons.
“We are seeing limited speculative development in the area, but mainly at the mid-size level, rather than larger.”
Neil Rushworth, managing director at Expect Distribution, said: “The lease of the new site on the Euroway Trading Estate signals the latest project in our expansion plans and specifically in our warehousing division.
“The site is ideally located both in terms of motorway access and in relation to our head office site, which is also on the M606 corridor. We are confident in our growth plans and a long-term lease on the site allows us to move forward with assurance in a marketplace where there is currently huge demand for 3PL warehousing.”
Alec Michael, partner at Michael Steel & Co, which represented Expect Distribution in the acquisition, said: “We are delighted to have been able to assist Expect in continuing its expansion plans in an excellent, strategic location.
“We have now commenced the marketing of its existing depot of 80,000 sq ft in Halifax, which Expect will vacate in the summer. This has generated good initial interest from potential buyers.”
Avison Young and CBRE acted for Legal and General, Michael Steel acted for Expect Distribution.