St Modwen acquires Pallet-Track distribution hub
St Modwen Logistics one of the UK’s leading logistics owners and developers, has acquired a 267,000 sq ft logistics unit in Ettingshall
The unit, known as the Titan 10 Distribution Centre, is let to Pallet-Track, one of the UK’s fastest growing palletised freight distribution companies, originally formed in nearby Wednesbury.
The facility has been home to Pallet-Track for more than 15 years and serves as its central UK hub, handling an average of 8,000 pallets per night and servicing its distribution network depots.
The building is just a 10-minute drive from junction 10 of the M6.
James Cooper, head of transactions at St Modwen Logistics, said: “This transaction represents a rare opportunity to acquire a high-specification distribution facility which is let to a leading UK business, in the ‘golden triangle’. This asset is a great example of the business-critical logistics facilities we are acquiring as part of our wider aggregation strategy.”
Andrew Franck-Steier, director at Atlas Real Estate, said: “We were delighted to be asked to sell the asset and it was great to have been involved in both the original funding and sale of the deal”.
Atlas Real Estate acted for the vendor and Acre Capital Real Estate acted for St Modwen Logistics.
