A warehouse let to discount supermarket chain Farmfoods has been sold for more than £30m.
Tungsten Properties has sold Super W in Warrington to Leftfield for £32.1m.
The 246,136 sq ft distribution warehouse was let to Farmfoods in August 2022 on a 25-year lease for £1.7m a year.
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Tungsten Properties had purchased the 11-acre site in 2020 and planning permission was achieved in early 2021.
Winvic constructed the unit to include integrated office accommodation, parking, gatehouse and warehouse operations office, landscaping and associated works.
Jeff Penman, managing director of Tungsten Properties, said: "Despite the recent market correction, the market for prime, carbon efficient warehouses with strong covenants in the 海角视频 remain strong and is reflected by Leftfield’s acquisition of Super W.
"Even with recent macro-economic events, the fundamentals the 海角视频 logistics remain strong. We are delighted to exceed our business plan for this project and wish Leftfield continued success with their portfolio."
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Nico Fourie, chief executive of Leftfield Advisors, added: "Leftfield remains a conviction buyer within this sector as digital adoption continues to drive online spend.
"This, by extension, increases business and consumer reliance on well-located, quality warehousing with excellent ESG credentials such as Super W."
Andrew Franck-Steier, director at Atlas Real Estate, said: "We were delighted to act for Tungsten Properties on this best in class sale. Leftfield’s performance was exemplary, and it was great to work with Acre Capital on the transaction."
Atlas Real Estate and Forsters acted on behalf of Tungsten Properties. Acre Capital Real Estate and Addleshaw Goddard acted on behalf of Leftfield.
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