News Archive

Trentham Lakes distribution centre investment sold to the Pru

Screwfix Direct’s huge new distribution centre which Stoke-on-Trent Regeneration Ltd, the joint venture between St Modwen Properties PLC and the City of Stoke-on-Trent, is constructing on its 400-acre Trentham Lakes development, Stoke-on-Trent, has been sold ahead of completion to Prudential for £16.87 million, representing an initial yield of 7.25%.

Prudential has acquired the site from the developer and is funding the remainder of the construction programme.

The 29,496 sq m (317,500 sq ft) centre which will be ready for Screwfix, a subsidiary of the Kingfisher Group, to begin fitting out from next April, has been let on a 25-year lease at an annual rent of £1.29 million. The site provides for Screwfix to expand by a further 12,077 sq m (130,000 sq ft) .

Euan Lindsay of St Modwen, said: “The deal reflects the high regard that investors now have in North Staffordshire as a significant distribution location with good future growth.”

Colliers CRE acted for Stoke-on-Trent Regeneration Ltd, Milner Moffitt represented Prudential.

For further information contact Euan Lindsay of St Modwen on 01782-281844.

Issued by Paul Raymer of Howle Chapman Raymer (0121-236-7771)